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Seoul shares seen holding as investors eye Samsung, U.S. data
SEOUL, July 6 (Reuters) - Seoul shares are seen mixed on
Friday morning, as investors wait on fresh jobs data from the
United States despite action by central banks to boost the
flagging global economy.
Industry bellwether Samsung Electronics Co
estimated its April-June operating profit at a record 6.7
trillion won ($5.9 billion), in line with forecasts, powered by
strong sales of its Galaxy smartphones
"Investors feel it is too early to cheer the response by
global central banks with important market events still up
ahead," said Kim Byung-yun, an analyst at Woori Investment &
Securities.
The European Central Bank cut its main refinancing rate to a
record low of 0.75 percent on Thursday as widely expected, while
remaining coy on additional "non-standard" measures such as
bond-buying or flooding banks with more liquidity.
In a surprise move by Beijing, Chinese policymakers lowered
its lending rate by 31 basis points to 6 percent following
another unanticipated rate cut last month.
Investors will be closely monitoring Friday's U.S. non-farm
payrolls data for the month of June.
The Korea Composite Stock Price Index (KOSPI) ticked
0.06 percent lower to close at 1,875.49 points on Thursday.
---------------MARKET SNAP SHOT @ 22:20
GMT-------------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1,367.58 -0.47% -6.440
USD/JPY 79.86 -0.06% -0.050
10-YR US TSY YLD 1.599 -- 0.000
SPOT GOLD $1,604.55 0.01% 0.220
US CRUDE $86.67 -0.63% -0.550
DOW JONES 12896.67 -0.36% -47.15
ASIA ADRS 119.76 -1.10% -1.33
--------------------------------------------------------------
>Wall St rally ends, caution before jobs report
>Prices gain as China, ECB cut interest rates
>Euro weakens after ECB cuts rates
>Brent up on Norway supply woes, some policy easing
(Reporting by Joonhee Yu; Editing by Richard Pullin)
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