Seoul shares heading for 2,000-mark, buoyed by Fed stimulus

Wed Dec 12, 2012 6:23pm EST

SEOUL, Dec 13 (Reuters) - Seoul shares are likely to rise on
Thursday cheered by the Federal Reserve's new stimulus plan and
the setting of policy guidelines.
    "The index is seen rising to the 2,000-mark in the near
future, helped by liquidity from the Fed," said Kim Yong-goo, an
analyst at Samsung Securities.
    "The Fed's easing measures met the market's expectations,
while the setting of clear inflation and unemployment targets
exceeded hopes and will clear uncertainty on the monetary
front."
    The Federal Reserve ramped up its monetary stimulus and said
it would keep benchmark U.S. interest rates near zero until the
jobless rate falls sharply. 
    But U.S. stocks ended Wednesday little changed, giving up
most of the day's gains after Fed Chairman Ben Bernanke
reiterated that monetary policy won't be enough to offset damage
from the "fiscal cliff." 
    The Korea Composite Stock Price Index (KOSPI) rose
0.55 percent to close at 1,975.44 points on Wednesday, extending
a two-month high.
    
------------------MARKET SNAPSHOT @ 22:28 GMT-------------------
 
  INSTRUMENT    LAST    PCT CHG    NET CHG    
S&P 500               1,428.48     0.04%      0.640    
USD/JPY                  83.13    -0.14%     -0.120    
10-YR US TSY YLD    1.702     --         0.046    
SPOT GOLD            $1,711.17    -0.02%     -0.380    
US CRUDE                $86.77     1.14%      0.980    
DOW JONES             13245.45    -0.02%      -2.99    
ASIA ADRS              125.55     0.46%       0.58    
-------------------------------------------------------------->W
all St end nearly flat as Bernanke warn on "cliff" 
>Prices slip as Fed announces new buying program    
>Euro gains on steady US rates, Fed bond buying plan 
>Oil up on more Fed stimulus,OPEC hold output target 
    
---STOCKS TO WATCH---  
      
    **HYUNDAI ENGINEERING & CONSTRUCTION **
   Hyundai Engineering & Construction was part of a consortium
that won a contract worth 30 billion Japanese yen ($360 million)
to build a power plant in Bangladesh. 
    
    **NCSOFT CORP **
    NCsoft Corp said on Wednesday that it will launch a 51
billion won ($47 million) holding company for its U.S. and
European operations. The holding company, called NCWest
Holdings, will launch on December 24.
    
    **STX CORP **
    STX Corp said on Wednesday that it may sell its
controlling stake in shipping unit STX Pan Ocean to
raise cash. Shares in STX Pan Ocean rose by the daily limit of
15 percent on Wednesday. 
($1 = 82.9300 Japanese yen)
($1 = 1075.0000 Korean won)

 (Reporting By Somang Yang; Editing by Richard Pullin)
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.