RPT-Seoul shares seen rangebound; earnings hopes lend support
(Repeats to fix formatting) SEOUL, March 19 (Reuters) - Seoul shares are seen trapped in a narrow range on Monday but investors are likely to continue to pile into large blue chips on positive earnings expectations for the first quarter, analysts said. "It looks to be a quiet day on the market, with investors stocking up on blue chips such as techs and automakers, as well as other issues that look poised for an earnings surprise," said Oh On-su, an analyst at Hyundai Securities, adding the index was seen confined to the 2,010-2,060 range throughout the session. On Friday, the S&P 500 closed out its best week in three months with a slim gain driven by energy shares as investors continued to propel equities near four-year highs. The Korea Composite Stock Price Index (KOSPI) fell 0.5 percent to close at 2,034.45 points on Friday, but still posted a weekly gain of 0.8 percent. --------------MARKET SNAPSHOT @ 22:19 GMT --------------- INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,404.17 0.11% 1.570 USD/JPY 83.38 -0.01% -0.010 10-YR US TSY YLD 2.298 -- 0.000 SPOT GOLD $1,657.67 0.25% 4.180 US CRUDE $107.26 0.19% 0.200 DOW JONES 13232.62 -0.15% -20.14 ASIA ADRS 131.30 0.12% 0.16 ------------------------------------------------------------- >S&P 500 ends best week since Dec with quiet day >Prices fall for 8th day on better economic outlook >Dollar drops but trajectory seen upward on data >Oil climbs on Iran tensions, weak dollar ---STOCKS TO WATCH--- **KIA MOTORS CORP ** According to local media reports, a U.S. production line run by unlisted South Korean auto parts maker Daehan Solutions, a key supplier of Kia Motors, suffered a major fire that could impact production of Kia vehicles. **HANJIN HEAVY INDUSTRIES & CONSTRUCTION CO LTD ** Hanjin Heavy Industries said in a regulatory filing on Friday that it was negotiating a new ship order with an unspecified client in Europe. **LOTTE SHOPPING CO LTD ** Lotte Shopping Co Ltd posted 95.9 billion won ($85.18 million) in losses last year from operations in China, Vietnam and Indonesia, local media said. (Reporting by Joonhee Yu; Editing by Jonathan Hopfner)
- More troops deployed in Ferguson to guard against fresh riots |
- Merkel hits diplomatic dead-end with Putin
- Jewish-nation bill frays Israel's delicate social fabric
- Ukraine reports new arrivals of Russian supplies for eastern rebels |
- Gunshots echo as violence returns to Ferguson, protests across U.S.