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Seoul shares seen edging up on U.S. consumer demand hopes
November 22, 2012 / 11:21 PM / 5 years ago

Seoul shares seen edging up on U.S. consumer demand hopes

SEOUL, Nov 23 (Reuters) - Seoul shares are likely to nudge
higher on Friday as the start of the U.S. holiday shopping
season whets investor appetite for consumer goods makers such as
tech stocks.
    "The KOSPI is expected to open up considering European
stocks ended positive on Thursday," said Kwak Byung-ryeol, an
analyst at Eugene Investment & Securities. 
    "An anticipation for increased year-end demand for goods
kicked off by Black Friday in the U.S. is expected to influence
the main board."  
    U.S. markets were closed on Thursday, but other markets
extended a week-long rally as manufacturing surveys in China and
the United States boosted confidence in global growth, while
euro zone data at least did not worsen the region's already weak
outlook. 
    Shares in Samsung Electronics Co Ltd closed up
2.4 percent on Thursday, buoyed by expectations its smartphone
business will lead strong profit growth. The tech giant has
about a 17 percent weighting in the KOSPI.
    The Korea Composite Stock Price Index (KOSPI) edged
up 0.8 percent to 1,899.50 points on Thursday, its highest close
in seven sessions. 
    
----------------MARKET SNAPSHOT @ 22:33 GMT ------------------
                 INSTRUMENT      LAST     PCT CHG     NET CHG
S&P 500               1,391.03       0.23%      3.220
USD/JPY                  82.44      -0.01%     -0.010
10-YR US TSY YLD    1.680        --        0.000
SPOT GOLD            $1,729.05       0.00%      0.000
US CRUDE                $87.11      -0.31%     -0.270
DOW JONES             12836.89       0.38%      48.38
ASIA ADRS              120.25       0.41%       0.49
------------------------------------------------------------
>S&P 500 gains for fourth session on light volume 
>Prices slip with profit taking in thin volume    
>Euro boosted by Greece aid deal hopes, yen wobbly  
  
>Oil dips in holiday-thinned trade on Gaza,EU data  
 

---STOCKS TO WATCH---  
      
     **CJ CGV ** 
    South Korean movie theatre operator CJ CGV Co Ltd has almost
completed talks to acquire Indonesia's movie theatre chain Blitz
Megaplex, local newspaper Korea Economic Daily reported Friday. 
    

 (Reporting by Joyce Lee; Editing by Richard Pullin)

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