Seoul shares seen lower but falls likely limited

SEOUL, Nov 30 (Reuters) - Seoul shares are set to open lower
on Moday on Dubai debt worries, but falls may be limited as
concerns have eased, sending European stocks higher on Friday.

POSCO (005490.KS) may be eyed after a stainless steel price
cut.

"Markets' reaction on Friday to the Dubai news was more
hysteria than a rational assessment of the situation. For now,
systematic financial risks from the Dubai situation seem
limited," said Won Sang-pil, a market analyst at Tong Yang
Securities.

South Korea's Financial Services Commission (FSC) said on
Sunday it saw little chance of a full-scale global problem
stemming from Dubai's debt crisis and expected a limited impact
on local financial markets.[ID:nSEO24688]

"With European shares rising over the weekend, a modest
rebound in Seoul is expected today," Won added.

News that U.S. consumers spent significantly less at the
start of the holiday season, dimming hopes for a retail comeback
that could help propel the economy early in 2010, may dent market
sentiment.

POSCO could be followed after news the world's No.4
steelmaker will lower prices of stainless steel to be released in
December by 200,000 won ($172.9) per tonne. [ID:nSEO40801]

The Korea Composite Stock Price Index .KS11 (KOSPI) ended
down 75.02 points at 1,524.50 on Friday, its lowest close since
late July.
----------------------MARKET SNAPSHOT @ 2252 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1091.49 -1.72% -19.140
USD/JPY JPY= 86.55 -0.12% -0.100
10-YR US TSY YLD US10YT=RR 3.207 -- 0.000
SPOT GOLD XAU= 1175.7 -0.08% -1.000
US CRUDE CLc1 76.05 0.00% -1.910
DOW JONES .DJI 10309.92 -1.48% -154.48
ASIA ADRS .BKAS 122.05 -2.58% -3.23
-------------------------------------------------------------

MARKET SUMMARY
*Wall Street ekes out gain on banks, materials [nN09469818]
*Oil falls 2.5 pct on Dubai default worries [nSP294995]
*Dollar gains on Dubai woes; yen off 14-year high [nN27431956]
*Treasuries rise on safe-haven buying [nN27505317]

STOCKS TO WATCH

DAEWOO SHIPBUILDING & MARINE ENGINEERING (042660.KS)

The world's No.2 shipbuilder said late on Friday that it was
considering building a wind power equipment plant in
China.[ID:nSEO7115]

(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)

((jungyoun.park@reuters.com; +82 2 3704 5643; Reuters
Messaging; jungyoun.park.reuters.com@reuters.net))

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