Seoul shares seen up, support at 1,800 eyed

SEOUL, Nov 28 (Reuters) - Seoul shares may open
modestly higher on Monday after falls last week, and are likely
to test support around 1,800 points amid persistent concerns
about the euro zone debt crisis and possible recession.
"We expect the market to move in positive territory today,
though upside momentum may not be strong," said Lee Kyoung-soo,
a market analyst at KB Investment & Securities.
"The market saw quite a steep correction last week. We are
likely to see some efforts to rebound, though preference for
safer assets is still strong."
A survey on Monday showing that confidence among South
Korean manufacturing companies toward the coming month hit a
four-month high may add support.
The Korea Composite Stock Price Index (KOSPI)
finished down 1.04 percent at 1,776.40 points on Friday, posting
the biggest weekly fall in 9 weeks.

---------------MARKET SNAP SHOT @ 22:19 GMT
------------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1,158.67 -0.27% -3.120
USD/JPY 77.53 -0.05% -0.040
10-YR US TSY YLD 1.965 -- 0.000
SPOT GOLD $1,679.15 0.00% 0.000
US CRUDE $96.77 0.62% 0.600
DOW JONES 11231.78 -0.23% -25.77
ASIA ADRS 108.85 0.44% 0.48
------------------------------------------------------------
MARKET SUMMARY
*Bond prices fall in profit-taking from recent gains
*Euro loses vs dollar for 4th straight week
*Brent oil falls on euro zone debt woes

BANKS
South Korea's KDB Financial Group, a holding company of
state-trun Korea Development Bank, is in talks to buy HSBC
Holdings Plc's retail banking operations in the
country.

DAEWOO ENGINEERING & CONSTRUCTION
Daewoo Engineering & Construction said late on Friday it
received a letter of award for an 830 billion won ($716.41
million) project to build a thermal power plant in Nigeria.

PETRICHEMICAL COMPANIES
South Korea might ban Iranian petrochemical product imports
following pressure from the United States to beef up sanctions
against Tehran over its nuclear programme.

DOOSAN HEAVY INDUSTRIES
Doosan Heavy has purchased a German engineering and energy
company for 87 billion won ($74.70 million) to focus on the U.S.
and European environmental equipment markets, according to a
local media report.

($1 = 1164.7000 Korean won)

(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)