SEOUL, Sept 17 (Reuters) - Seoul shares are likely to rise on
Thursday after gains overnight on Wall Street, while retailers
including Lotte Shopping (023530.KS) may be eyed after data
showed department store sales rose in August.
"U.S. shares' gains and continuing economic optimism on
positive U.S. data will continue to lift markets higher," said
Kim Young-june, a market analyst at SK Securities.
"Eyes will be on forex markets as the U.S. dollar continues
to weaken against the won KRW=," Kim said adding that appetite
for riskier assets may rise, helping boost foreign appetite for
Seoul stocks.
Retailers including Lotte Shopping and Shinsegae Co Ltd
(004170.KS) may advance after data showed sales at South Korea's
top three department stores in August rose at the fastest clip in
seven months, providing fresh evidence of recovering domestic
demand. [ID:nSEO286562]
Hyundai Motor (005380.KS) could also be followed after news
the automaker plans to produce a new model in India priced as low
as $5,000 and targeting emerging countries. [ID:nLG94907]
The Korea Composite Stock Price Index (KOSPI)
finished up 1.81 percent at 1,683.33 points on Wednesday, the
highest close since late June, 2008.
----------------------MARKET SNAPSHOT @ 2243 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1068.76 1.53% 16.130
USD/JPY JPY= 90.88 -0% 0.000
10-YR US TSY YLD US10YT=RR 3.4746 -- 0.000
SPOT GOLD XAU= 1016.7 0.00% 0.000
US CRUDE CLc1 72.39 -0.17% -0.100
DOW JONES .DJI 9791.71 1.12% 108.30
ASIA ADRS .BKAS 125.57 1.97% 2.42
-------------------------------------------------------------
Market Summary
*Wall St rises for 3rd day on economic optimism [nN16246119]
*Dlr drops to near 1-yar lows on stocks, recovery [nN16154909]
*Oil climbs above $72 as US stockpiles slip [nSP530535]
*Treasuries dip as strong economic data weigh [nN16592499]
STOCKS TO WATCH
HANJIN SHIPPING (000700.KS)
Hanjin Shipping said late on Wednesday it was splitting
itself into a mainstay shipping business and a company in charge
of investment activities, which will become a pure holding
company.
Hanjin said in a separate filing to the Korea Exchange it
plans to sell about 29,000 container boxes for 99.4 billion won
($82.48 million).
HYUNDAI MOTOR (005380.KS)
Morgan Stanley raised its target price on South Korea's top
automaker to 142,000 won from 120,000 won.
STX PAN OCEAN (028670.KS)
Citi initiated its coverage on shipping unit of STX Group
with a "Sell" rating and a target price of 9,300 won.
LG HOUSEHOLD & HEALTH CARE (051900.KS)
Citi raised its target price on LG Household to 281,000 won
from 246,000 won.
(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)
