Samsung Electronics, however, fell 0.21 percent to 46,850 won after the chip giant reported an operating profit of 6.2 trillion won for the January-March quarter, a 60 percent on-year decrease in its first-quarter earnings guidance.
Operating profits for January to March would be "approximately 6.2 trillion won", the firm said in a statement, down 60.4 per cent on the same period a year ago, on sales of about 52 trillion won - 14 per cent lower.
The aggregate net profit of KOSPI firms, excluding Samsung Electronics, declined as much as 10 trillion won (US$8.80 billion) a year ago.
The IT & Mobile business, which makes smartphone, was estimated to have made an operating profit of about 2.5 trillion won (2.2 billion US dollars) in the first quarter on brisk sale of its new flagship Galaxy S10 smartphones.
SK Hynix Inc, Micron Technology Inc and Samsung - which dominate the global market for dynamic random access memory, or DRAM, chips used in personal computers, smartphones and servers - recently have issued upbeat assessments of the prospects for a recovery in chip prices.
Samsung, which finished goods and includes strength in components, is the world's biggest maker of memory chips and tablet computers. With a dark cloud like that hanging over their head it shouldn't be a surprise to learn that Samsung is now warning that profits will drop 60% in Q1.More news: Smollett refuses to reimburse Chicago for investigation, city set to sue
"Weak demand in the memory chip and display business are expected to have dragged down Samsung's profits, while better-than-expected sales of the Galaxy S10 contributed to earnings in the IT and mobile division", Choi Do-yeon, an analyst at Shinhan Investment & Securities, said.
Samsung Electronics announced it is expecting drop in revenue and operating profit due to weakness in its display and memory business in the first quarter of 2019.
In January Samsung said it was reducing spending to focus on the profitability of its memory operations after fourth quarter net income plunged the most in two years.
The Galaxy S10 5G is also the largest Galaxy S10-branded smartphone, this phone features a 6.7-inch QHD+ Dynamic AMOLED, curved display, in which you will notice two front-facing cameras which are included in the top-right corner, same as on the Galaxy S10+.
Samsung is also set to release the world's first bendable smartphone, the Galaxy Fold.