April 22, 2014 / 2:41 AM / 3 years ago

Seoul stocks underpinned by Wall Street gains; won slips

* Stocks hold steady, won falls for 2nd day
    * Investors await China manufacturing survey, earnings

    By Christine Kim
    SEOUL, April 22 (Reuters) - Seoul shares edged higher on
Tuesday, buoyed by gains on Wall Street, while the won 
slipped on broad dollar strength amid subdued trade as investors
awaited market-moving catalysts.
    The Korea Composite Stock Price Index (KOSPI) was up
0.1 percent at 2,001.35 points as of 0210 GMT.
    The South Korean won stood at 1,040.8 against the
dollar, down 0.2 percent from Monday's local close at 1,039.0,
poised to mark a second day of falls.
    Market players said the won's losses against the dollar,
which returned from the Easter holidays at a two-week high
against a basket of currencies, could be capped by local
exporters. 
    "We're likely to see a narrowly boxed range for the won
today. Exporters will probably start selling dollars once the
won falls below the 1,040 level," said Hong Seok-chan, a
foreign-exchange analyst at Daishin Economic Research Institute.
    Foreign investors bought a net 24.4 billion won ($23.5
million) worth of local stocks by midday in their sixth straight
session of purchases.
    Trade was expected to be thin on Tuesday on a lack of major
cues, with investors awaiting a preliminary survey on
manufacturing activity in China the following day.
    Traders were also seen holding their fire ahead of
first-quarter earnings reports from major companies this week.
    Declining stocks narrowly outnumbered advancers 396 to 367.
    Hyundai Securities shares outperformed the
market by far. They soared more than 8 percent in early trade on
media reports that the brokerage may be acquired by Hyundai
Motor Group.
    Lagging behind were LG Hausys Ltd and Hite Jinro
, falling more than 2 percent.
    The KOSPI 200 benchmark of core stocks was up 0.1
percent, while the junior KOSDAQ also edged 0.1 percent
higher.
    June futures on three-year treasury bonds ticked up
0.01 point to trade at 105.72.
    
                      0210 GMT    Prev close
 Dollar/won            1,040.8       1,039.0
 Yen/won           10.1374/452       10.1195
 *KTB futures           105.72        105.71
 KOSPI                2,001.35      1,999.22
 * Front-month futures on three-year treasury bonds
($1 = 1039.0000 Korean Won)

 (Editing by Chris Gallagher)

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