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Seoul shares may rebound as key decisions near in U.S., Germany
SEOUL, Sept 12 |
SEOUL, Sept 12 (Reuters) - South Korean stocks are expected to snap a two-day loss on Wednesday, after U.S. shares rose ahead of crucial decisions in Germany and the United States that could lift investor sentiment.
Investors are counting on Germany's top court approving the euro zone's new bailout fund on Wednesday.
The Federal Reserve concludes a two-day meeting on Thursday, at which time some analysts and investors expect the U.S. central bank to announce a third round of quantitative easing, or bond-buying, to bolster the world's biggest economy.
"Investors will remain on the fence ahead of the two big events tonight," said Eom Tae-woong, an analyst at Bookook Securities.
"Positive results will reduce chances of heavy foreign selling on an options expiry day tomorrow," he said.
The Korea Composite Stock Price Index (KOSPI) finished down 0.24 percent at 1,920.00 points on Tuesday, falling for a second day. ------------------MARKET SNAPSHOT @21:58 GMT----------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,433.56 0.31% 4.480 USD/JPY 77.78 0.04% 0.030 10-YR US TSY YLD 1.701 -- 0.046 SPOT GOLD $1,731.18 -0.03% -0.460 US CRUDE $96.92 -0.26% -0.250 DOW JONES 13323.36 0.52% 69.07 ASIA ADRS 119.19 0.94% 1.11 ------------------------------------------------------------- >Dow climbs to highest since 2007,Fed optimism build >Heavy supply weighs on prices before Fed >U.S. dollar drops as Fed, Moody's weigh >Oil rises awaiting Fed meeting, German court
STOCKS TO WATCH
HANWHA GROUP
Hanwha SolarOne Co Ltd said the acquisition of German solar group Q-Cells by its parent Hanwha Group may help the solar panel maker sidestep recently-imposed import duties in the U.S. and potential tariffs in Europe. [ID: nL3E8KB44G]
Hanwha SolarOne Co Ltd posted a wider quarterly loss as prices for solar products remain depressed. (Reporting by Hyunjoo Jin; Editing by Joseph Radford)
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