Seoul shares seen rangebound on economy worries

SEOUL, Sept 3 (Reuters) - Seoul shares may trade in a tight
range on Wednesday after moderate U.S. share losses overnight as
Wall Street resumed trading after the long Labor Day weekend.
South Korean shares had fallen heavily while Wall Street was
closed.

Techs are likely to come under pressure on economy worries,
while caution will pervade markets ahead of South Korean bond
redemptions.

Technology issues such as Samsung Electronics (005930.KS) and
LG Electronics (066570.KS) may fall after their U.S. peers
declined on Tuesday amid jitters that a global economic slowdown
will crimp technology spending.

However easier oil CLc1 below $110 per barrel may lend some
support to retail and automaking issues including Lotte Shopping
(023530.KS) and Hyundai Motor (005380.KS).

The Korea Composite Stock Price Index .KS11 posted its
lowest close in 18 months, falling 0.52 percent to 1,407.14
points on Tuesday but recovering from session lows below 1,400.

Analysts also said investors will be nervous against a
background of a slumping won, paying particular attention to next
Thursday's central bank monthly policy interest rate decision.

"Despite the steep falls in the previous two sessions, drops
in U.S. shares among other domestic issues will continue to weigh
on sentiment," said Lee Jae-mahn, a market analyst at Tong Yang
Securities.

"We saw institutions pick up quite a volume of shares
yesterday amid falls, and that may continue today. But interest
will centre around defensive issues in telco, utilities and
such," Lee added.
----------------------MARKET SNAPSHOT @ 2234 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1277.58 -0.41% -5.250
USD/JPY JPY= 108.65 0.03% 0.030
10-YR US TSY YLD US10YT=RR 3.7364 -- 0.000
SPOT GOLD XAU= 803.45 -0.13% -1.050
US CRUDE CLc1 109.95 0.22% 0.240
DOW JONES .DJI 11516.92 -0.23% -26.63
ASIA ADRS .BKAS 133.90 -2.41% -3.30
-------------------------------------------------------------

MARKETS SUMMARY
*Wall St ends lower as tech, energy shares drag [ID:nN02325553]
*Oil as low as $105, CRB sinks, as Gustav fizzles [ID:nN02437264]
*US dollar rises to 10-½ mth high as oil tumbles[ID:nN02572558]
*Treasury bonds boosted by easing inflation worry [ID:nN02577955]

STOCKS TO WATCH

SAMSUNG ELECTRONICS (005930.KS)

Nokia said on Tuesday Samsung Electronics had accepted Nokia's
(NOK1V.HE) offer to buy out its stake in software firm Symbian,
and Nokia now has acceptances from all Symbian shareholders to
sell their shares.[ID:nHEL006695]

- - - -

HYUNDAI MOTOR (005930.KS)

Hyundai Motor Co, South Korea's top auto maker, and its
unionised workers had reached a preliminary wage deal for this
year, the company said on Tuesday.[ID:nSEO93171]

(Reporting by Park Jung-youn; Editing by Keiron Henderson)