Samsung Reaches Record After Sony, Panasonic Cut: Seoul Mover
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Samsung Electronics Co. rose to a record in Seoul trading a day after Fitch Ratings cut Sony Corp. and Panasonic Corp. to junk, improving the chances of the world’s biggest maker of TVs to extend its dominance.
The stock rose 1.4 percent to 1,437,000 won, its biggest five-day advance since Aug. 1, according to data compiled by Bloomberg. The shares have risen 36 percent this year, valuing the Suwon, South Korea-based company at 212 trillion won ($195 billion), making it the 15th-biggest in the world by market capitalization, according to data compiled by Bloomberg.