SEOUL, Oct 26 (Reuters) - Seoul shares may open weaker on
Monday after falls overnight on Wall Street, but sentiment will
likely be helped by South Korea's stronger than expected third
quarter gross domestic product data.
"Markets will probably open weaker in earlier trade as U.S.
stocks' falls will weigh," said Won Sang-pil, a market analyst at
Tong Yang Securities.
"But the strong domestic third quarter GDP data will help
sentiment, and bodes well for other key economic data due out
later this week," Won added.
Consumption issues such as Lotte Shopping (023530.KS) could
be helped after the Bank of Korea said the economy grew a
seasonally adjusted 2.9 percent in the third quarter over the
second quarter, the fastest in 7-½ years and a third
consecutive quarterly gain. [ID:nSEV002876]
Shares in SK Energy (096770.KS) could be followed after the
company said on Sunday it was chosen as a supplier of lithium-ion
batteries for a hybrid electric vehicle project by Daimler
(DAIGn.DE) unit Mitsubishi Fuso. [ID:nSEO13078]
The Korea Composite Stock Price Index (KOSPI)
finished up 0.6 percent at 1,640.17 points on Friday.
----------------------MARKET SNAPSHOT @ 2248 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1079.6 -1.22% -13.310
USD/JPY JPY= 92.09 -0.04% -0.040
10-YR US TSY YLD US10YT=RR 3.49 -- 0.000
SPOT GOLD XAU= 1053.15 -0.08% -0.800
US CRUDE CLc1 79.85 -0.81% -0.640
DOW JONES .DJI 9972.18 -1.08% -109.13
ASIA ADRS .BKAS 123.48 -1.61% -2.02
-------------------------------------------------------------
MARKET SUMMARY
*Wall St falls on weak industrials; transports drag[nN23124880]
*Oil falls toward $80 as dollar firms, stocks fall [nSP188331]
*Sterling tumbles on GDP shock; dollar gains [nN23125198]
*Pending supply, rate woes undermine Treasuries [nN23432472]
STOCKS TO WATCH
LG ELECTRONICS (066570.KS)
The electronics giant said on Sunday it had agreed to supply
car audio systems worth about $370 million to Germany's
Volkswagen (VOWG.DE). [ID:nSEF000022]
HYNIX SEMICONDUCTOR (000660.KS)
Citi raised its earnings forecasts for Hynix Semiconductor,
citing a strong memory sector outlook. It upped its operating
profit forecast for 2010 to 2.42 trillion won ($2.04 billion)
from the previous 2.19 trillion won and its 2011 forecast to 2.52
trillion won from 2.41 trillion won.
(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)
