Seoul shares seen down on renewed econ worries

SEOUL, June 17 (Reuters) - Seoul shares may fall on
Wednesday after losses on Wall Street, with
weaker-than-expected U.S. industrial production data likely to
weaken sentiment.

"Shares are likely to open in negative territory today
after weakness in both shares and data from the United States,"
said Lawrence Kim, a market analyst at Woori Investment &
Securities.

Best Buy Co Inc (BBY.N), the largest U.S. consumer
electronics retailer posted weaker-than-expected sales in its
first quarter and suggested earnings fro the rest of the year
would be worse than forecast. Meanwhile U.S. industrial
production fell by more than forecast. [ID:nN16302759]

"But falls are likely to be modest. The index still has
firm support at a high 1,300 point-level, and domestic pension
funds may buy as the end of first half nears," Kim added.

"Cheaper share prices may prompt them to fill any gaps in
the holdings."

KB Financial Group (105560.KS) may be in focus after local
media reports that KB Real Estate Trust has been picked as the
preferred bidder for a building owned by South Korean unit of
ING Group, after offering 400 billion won ($318.6 million).

The Korea Composite Stock Price Index .KS11 (KOSPI) ended
down 0.94 percent at 1,399.15 points on Tuesday.
----------------------MARKET SNAPSHOT @ 2243 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P
500 .SPX 927.26 0.38% 3.540 USD/JPY

JPY= 96.39 -0% 0.000 10-YR US
TSY YLD US10YT=RR 3.6491 -- 0.000 SPOT GOLD

XAU= 933.9 -0.02% -0.200 US CRUDE
CLc1 70.08 -0.55% -0.390 DOW JONES
.DJI 8504.67 -1.25% -107.46 ASIA ADRS
.BKAS 107.73 -1.89% -2.07
-------------------------------------------------------------

MARKETS SUMMARY *Wall St hit by economic, consumer
jitters [nN16302759] *Dollar slides after Russia comments
BRIC summit [nN16304404] *Treasuries rise on Fed debt purchase,
fading stocks[nN16296650] *Oil slips on dollar, U.S. industrial
data [nN16279408]

STOCKS TO WATCH

LOTTE GROUP ISSUES

South Korean retail giant Lotte Group said on Tuesday it
might build a brewer to become the country's third beer
company, after it dropped out of a deal to buy Oriental Brewery
(OB) earlier this year. [ID:nSEO2949]

LG DISPLAY (034220.KS)

The world's No.2 maker of liquid crystal display may be in
the spotlight after a local media report the company plans to
make more investments in it solar cell business, in order to
develop the business as one of its core areas.

(Reporting by Jungyoun Park; Editing by Dhara Ranasinghe)