Stock Market Update

Unexpected Soar In Manufacturing Output In December Industrial production soared 12.6% in December over last year ' close to double that of market consensus of 6.4%. This unexpected spike in industrial output has spurred market talk of an upward revision to estimates of 4Q11 and 2011 GDP growth.

Samsung Electronics Co's quarterly profit rose 17 per cent from a year earlier on the strength of sales in smartphones and flat panels. Samsung said Friday in a regulatory filing that its net profit reached 4 trillion won (US$3.5 billion) in the three months that ended in December. The company earned 3.4 trillion won a year earlier. The Suwon, South Korea-based company said its operating profit jumped 75.8 per cent to 5.3 trillion won in the same quarter. The figure was closely in line with the company's estimate last month of a 73 per cent rise.

Samsung, the world's biggest manufacturer of memory chips and liquid crystal displays, said demand for semiconductors in mobile products and servers remained solid despite weaknesses in personal computers. The company also said it was able to consolidate its profit in smartphones and flat television sales, noting its efforts to expand electronics parts businesses to secure future growth potential. 

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