Seoul shares seen firmer;Hyundai Corp, Heavy, eyed
SEOUL, May 15 (Reuters) - Seoul shares may open firmer on Friday after a positive finish on Wall Street with continued gains in crude CLc1 likely to help energy issues, but weak U.S. job data may weigh on sentiment.
"Following the market's falls yesterday in options expiry-related volatile trading, shares are likely to be more stable today, helped by U.S. gains," said Kwak Joong-bo, a market analyst at Hana Daetoo Securities.
"Weak U.S. job data may weigh. The index will probably move in a boxed range around 1,400 points until we have a clearer macroeconomic picture," Kwak said.
Hyundai Heavy Industries (009540.KS) and Hyundai Corp (011760.KS) may draw attention after banks scrapped an auction to sell a majority stake in the trading and resource-development company to Hyundai Heavy, the final bidder, due to a price gap.[ID:nSEO253494]
Meanwhile technology issues including Samsung Electronics (005930.KS) and Hynix Semiconductor (000660.KS) may be boosted by solid gains in the U.S. semiconductor index .SOXX.
The Korea Composite Stock Price Index (KOSPI) ended down 2.37 percent to 1,380.95 points on Thursday, its lowest close since April 30. ----------------------MARKET SNAPSHOT @ 2244 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 .SPX 893.07 1.04% 9.150 USD/JPY JPY= 96.12 0.21% 0.200 10-YR US TSY YLD US10YT=RR 3.0921 -- 0.000 SPOT GOLD XAU= 925.65 0.03% 0.300 US CRUDE CLc1 58.55 -0.12% -0.070 DOW JONES .DJI 8331.32 0.56% 46.43 ASIA ADRS .BKAS 104.86 0.63% 0.66 -------------------------------------------------------------
MARKET SUMMARY *Wall Street boosted by return to banks, tech [ID:nN14512612] *Oil demand to post sharpest fall since 1981 -IEA [ID:nLE886831] *US dollar rises vs yen as stocks rebound [ID:nN14509315] *Treasuries rise on weakness in job market [ID:nN14487583]
STOCKS TO WATCH
STX ENPACO (071970.KS)
The South Korean maker of engine parts is floating its shares on the main KOSPI index on Friday. Its IPO offer price was 13,000 won per share.
RETAIL ISSUES
Sales at top South Korean department stores rose again in April, adding to a batch of domestic data spurring hopes of an early recovery for Asia's fourth largest-economy. [ID:nSEO331486]
(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)
© Thomson Reuters 2009 All rights reserved

