Seoul shares seen higher on U.S. gains, data

SEOUL, Aug 28 (Reuters) - Seoul shares are likely to rise on
Thursday, with surprisingly strong U.S. durable goods data
soothing fears about South Korea's second biggest export market.

Exporters such as LG Electronics (066570.KS) and Hyundai
Motor (005380.KS) are set to open higher after U.S. data on new
orders for big-ticket manufactured items exceeded expectations.

Financials including Shinhan Financial Group (055550.KS) may
gain strength after their U.S. peers advanced led by mortgage
lenders.

However higher oil CLc1 above $118 per barrel may weigh on
airlines and retail issues.

"Strong gains in the U.S. markets will probably trigger some
buying activity in Seoul as well, especially since the market has
seen steep losses in recent weeks," said Kim Hyoung-ryoul, a
market analyst at NH Investment & Securities.

"But I'm afraid large cap, blue chip shares may have another
dull session as earnings estimates on major firms like Samsung
Electronics (005930.KS) are being downgraded at the moment," Kim
added.

The Korea Composite Stock Price Index .KS11 closed up 0.25
percent at 1,493.92 points on Wednesday, but has still lost 8
percent since late July.
----------------------MARKET SNAPSHOT @ 2308 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1281.66 0.8% 10.150
USD/JPY JPY= 109.52 -0.02% -0.020
10-YR US TSY YLD US10YT=RR 3.7667 -- 0.000
SPOT GOLD XAU= 828 0.25% 2.100
US CRUDE CLc1 118.35 0.17% 0.200
DOW JONES .DJI 11502.51 0.79% 89.64
ASIA ADRS .BKAS 137.52 0.75% 1.03
-------------------------------------------------------------

MARKET SUMMARY
*Strong U.S. data, financials drive stocks higher [ID:nN27493375]
*Oil rises as Gustav threatens U.S. Gulf [ID:nT46087]
*Dollar down from 2008 high with Webster lifting euro
[ID:nN27461043]
*Treasury prices rebound after early hit from durab
[ID:nN27497928]

STOCKS TO WATCH

HYUNDAI HEAVY INDUSTRIES (009540.KS), POSCO (005490.KS), GS
(078930.KS), HANWHA CORP (000880.KS), DAEWOO SHIPBUILDING &
MARINE ENGINEERING (042660.KS)

The sale of a 50.4 percent stake of Daewoo Shipbuilding, the
world's No.3 shipbuilder, has drawn interest from four contenders
in a deal estimated to fetch up to $8 billion.[ID:nSEO31354]

HYUNDAI MOTOR (005380.KS), KIA MOTORS (000270.KS)

Unionised workers at Hyundai and Kia on Wednesday launched
another round of partial strikes over a wage deal and working
conditions.[ID:nSEO51280]

KOOKMIN BANK 060000.KS

South Korea's Kookmin Bank completed acquisition of a 23
percent stake in Kazakhstan bank CenterCredit for $500 million on
Wednesday, the first step in becoming a controlling shareholder.

(Reporting by Park Jung-youn; Editing by Jonathan Hopfner)