Seoul shares seen flat as markets wary ahead of Fed meeting
SEOUL, Sept 13 (Reuters) - Seoul shares are seen opening flat on Friday, as global markets are likely to remain in a holding pattern ahead of next week's U.S. Federal Reserve decision on its massive bond-buying stimulus programme. Wall Street slipped overnight on profit-taking as immediate focus shifted towards the Fed's next move. While U.S. jobless claims fell sharply last week, technical problems with the data clouded what is the last major reading on the labour market before the Fed meeting. "Investors are likely to take a measured approach before the start of Chuseok (Korea's thanksgiving) holidays in Wednesday, but they probably won't hit the exit just yet," said Shinhan Investment & Securities analyst Han Beom-ho. Markets in South Korea will be closed from Sept. 18-20 for next week's Chuseok holidays. Han said the direction of foreign capital flows will likely dictate the market's fortunes. Foreign investors were net buyers for the 15th consecutive session on Thursday, purchasing 1.4 trillion won ($1.29 billion) worth of local shares--the most since August 2012 mainly bumped up by a 807.3 billion won block stock offering by POSCO . Foreign net buying totaled up to 3.5 trillion won for the week so far. The Korea Composite Stock Price Index (KOSPI) closed up 0.01 percent at 2,004.67 on Thursday, the sixth consecutive positive close. ------------------ MARKET SNAPSHOT @ 22:43 GMT ----------------- INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,683.42 -0.34% -5.710 USD/JPY 99.56 0.02% 0.020 10-YR US TSY YLD 2.905 -- 0.000 SPOT GOLD $1,322.94 0.21% 2.750 US CRUDE $108.62 0.02% 0.020 DOW JONES 15300.64 -0.17% -25.96 ASIA ADRS 144.99 -0.87% -1.27 ---------------------------------------------------------------- >Market retreats after 7 up sessions; miners lead decline >Prices barely higher on unease ahead of Fed meeting >Dollar slips on shifting Fed expectations >Oil rises for second day as investors watch Syria STOCKS TO WATCH SAMSUNG FIRE & MARINE INSURANCE The South Korean insurance company said on late Thursday it will purchase 354.2 billion won worth of its own shares until Dec. 12 for price stabilization. STX ENGINE CO LTD The company said on Thursday it decided to undergo a debt for equity swap, issuing 51.3 billion won worth of new stocks to improve its financial structure. ($1 = 1084.9500 Korean won) (Reporting by Jungmin Jang; Editing by Shri Navaratnam)
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