Seoul shares seen firmer;Hyundai Corp, Heavy, eyed

Thu May 14, 2009 7:35pm EDT
 
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 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)




 

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