Seoul shares are seen down, dogged by growth concerns

Mon Oct 8, 2012 7:32pm EDT

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SEOUL, Oct 9 (Reuters) - South Korean stocks are expected to
extend losses on Tuesday, taking a cue from Wall Street, as
investors brace themselves for disappointing corporate earnings
and a slowing world economy.
    "Economic uncertainty is growing and the market lacks
momentum after Samsung Electronics announced earnings estimates
(on Friday)," said Jeff Kim, an analyst Kyobo Securities.
    U.S. shares were pressured on Monday by a weak corporate
earnings outlook as the World Bank cut its growth forecasts for
the East Asia and Pacific region, and warned that the slowdown
in China could worsen and last longer than many analysts expect.
 
    The Korea Composite Stock Price Index (KOSPI) closed
0.7 percent lower at 1,981.89 points on Monday, closing below
the 2,000 point mark for the eighth straight session.
 
------------------MARKET SNAPSHOT @21:58 GMT---------------- 
                 INSTRUMENT    LAST    PCT CHG   NET CHG    
S&P 500               1,455.88    -0.35%    -5.050    
USD/JPY                  78.29    -0.04%    -0.030    
10-YR US TSY YLD    1.743      --       0.000    
SPOT GOLD            $1,775.49     0.07%     1.200    
US CRUDE                $89.33     0.00%     0.000    
DOW JONES             13583.65    -0.19%    -26.50    
ASIA ADRS              119.73    -0.76%     -0.92    
-------------------------------------------------------------
>Wall St drops as investors wary of weak earnings   
>Prices fall as jobless rate improves,new supply due 
>Euro falls from 2-week highs vs dollar             
>Oil dips on growth worry;Middle East fears support 
 

 (Reporting by Hyunjoo Jin; Editing by Eric Meijer)
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