SEOUL, Sept 16 (Reuters) - Seoul shares are set to open
higher on Wednesday after gains overnight on Wall Street, with
stronger-than-expected U.S. manufacturing and retail data
likely to boost sentiment and appetite for exporters as well.
"Strength in the U.S. economic data will again strengthen
optimism about the economies, and this will catapult Seoul
shares higher," said Shim Jae-youb, a market analyst at Meritz
Securities.
"Key blue chip sectors, such as tech, auto, and banks will
likely lead gains amid an improving economic outlook," said
Shim.
The Korea Composite Stock Price Index (KOSPI)
finished up 1.13 percent at 1,653.40 points on Tuesday, posting
the highest close since early July 2008, led by banks and auto
issues including Shinhan Financial Group (055550.KS) and
Hyundai Motor (005380.KS).
Meanwhile KOGAS (036460.KS) may be followed after the
world's biggest corporate buyer of liquified natural gas (LNG)
and South Korea's sole wholesaler said late on Tuesday it had
agreed with Chevron Corp (CVX.N) to import 1.5 million tonnes
of LNG per year for the next 15 years from the Gorgon LNG
project in Australia. [ID:nSEO239259]
----------------------MARKET SNAPSHOT @ 2234 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1052.63 0.31% 3.290
USD/JPY JPY= 91 -0.03% -0.030
10-YR US TSY YLD US10YT=RR 3.4467 -- 0.000
SPOT GOLD XAU= 1008.05 0.21% 2.150
US CRUDE CLc1 70.43 -0.70% -0.500
DOW JONES .DJI 9683.41 0.59% 56.61
ASIA ADRS .BKAS 123.15 0.10% 0.12
-------------------------------------------------------------
Market Summary *Wall Street hits 2009 highs, led by materials
[nN1581026] *Oil jumps 3 pct as US data lifts economic
outlook [nSP312072] *Dollar falls to near one-year low vs
basket [nN1573794] *Treasuries glum as retail sales data
sizzles [nN15582142]
STOCKS TO WATCH
SAMSUNG ENGINEERING (028050.KS)
BNP Paribas upgraded its rating on Samsung Engineering to
"Buy" from "Hold" and upped its target price on the company to
120,000 won from previous 72,000 won.
NHN (035420.KS)
Daiwa Securities lowered its target price on South Korea's
top Internet firm to 195,000 won from 217,000 won.
SAMSUNG ELEC-MECH (009150.KS)
Citi upgraded its rating on Samsung Elec-Mech to "Hold"
from "Sell" and boosted its target price on the company to
110,000 won from previous 43,000 won.
(Reporting by Jungyoun Park; Editing by Dhara Ranasinghe)
