Seoul shares seen lower after rally; 'fiscal cliff' in focus

Sun Dec 16, 2012 6:40pm EST

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SEOUL, Dec 17 (Reuters) - Seoul shares are likely to inch
down on Monday, taking a breather after the main board rose 1.9
percent last week to nine-week highs. 
   "As the KOSPI saw such strong upward momentum in a short
period, a brief pause is inevitable," said Lee Seung-woo, an
analyst at KDB Daewoo Securities. 
   Sentiment will also be hurt by uncertainty surrounding U.S.
"fiscal cliff" negotiations, which helped U.S. stocks end lower
on Friday. 
   The Korea Composite Stock Price Index (KOSPI) closed
down 0.4 percent at 1,995.04 points on Friday.
   South Korea's presidential elections on Wednesday are not
expected to have a large effect the main board this week, said
Eugene Investment & Securities analyst Kwak Byung-ryeol, as the
market has historically been affected more by external factors
than domestic politics.
-----------------MARKET SNAPSHOT @ 22:42 GMT ------------------ 
  
                 INSTRUMENT    LAST     PCT CHG       NET CHG
S&P 500             1,413.58      -0.41%        -5.870
USD/JPY                84.11      -0.24%        -0.200
10-YR US TSY YLD  1.704        --           0.000
SPOT GOLD          $1,695.09       0.00%         0.000
US CRUDE              $86.73       0.98%         0.840
DOW JONES           13135.01      -0.27%        -35.71
ASIA ADRS            125.98       0.50%          0.63
-------------------------------------------------------------
>Wall St ends lower on Apple,'cliff'uncertainty   
>Prices rise as tame inflation supports Fed policy 
>Yen slumps to 20-mth low following LDP victory   
>Oil rises on China data as Jan.Brent nears expiry 

---STOCKS TO WATCH---  
      
    **KT **
    KT Corp said in a regulatory filing late Friday it was
considering buying a stake in a Moroccan telecommunications
firm. Reuters reported earlier that the South Korean firm is
interested in bidding for Vivendi' 53 percent stake in Maroc
Telecom. 

    **TONG YANG SECURITIES **
    Tong Yang Securities Inc said in a regulatory filing late
Friday it was in talks with local private equity fund Vogo
Investment to give up its call option and sell at least part of
its remaining stake in Tong Yang Life Insurance Co Ltd
. 
    Vogo is currently the largest shareholder in Tong Yang Life
Insurance. 

 (Reporting by Joyce Lee; Editing by Edwina Gibbs)
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