December 19, 2012 / 11:46 PM / 5 years ago

Seoul shares seen softer, post-election stimulus pondered

SEOUL, Dec 20 (Reuters) - Seoul shares look set to resume
trade on a softer note on Thursday after Wednesday's
presidential election, with many traders expecting talk of fresh
stimulus measures from the government.
    Conservative Park Geun-hye from the ruling party won South
Korea's presidential election on Wednesday, beating her
left-wing challenger, human rights lawyer Moon Jae-in.
 
    "There have been hopes of economic stimulus by a new
president, but the president-elect has yet to show her cards.
Therefore, the stock markets will react calmly today although
individual stocks or sectors may be affected," said Kim
Hyeong-ryol, an analyst at Kyobo Securities.
    Park, who will be the country's first female leader when she
takes office in February next year, pledged moderate reform of
South Korea's big, family-owned conglomerates and to lift small
and medium-sized business. She also vowed to help the KOSPI
reach 3,000 points during her five-year term.
    On the previous trading session on Tuesday, the Korea
Composite Stock Price Index (KOSPI) rebounded 0.51
percent at 1,993.09 points. 
    U.S. stocks sold off late in the day to close at session
lows on Wednesday as talks to avert a year-end fiscal crisis
turned sour, even as investors still expect a deal.
--------------------MARKET SNAPSHOT @22:23 GMT--------------
                 INSTRUMENT    LAST    PCT CHG   NET CHG    
S&P 500               1,435.81    -0.76%   -10.980    
USD/JPY                  84.19    -0.25%    -0.210    
10-YR US TSY YLD    1.807      --      -0.014    
SPOT GOLD            $1,665.85    -0.04%    -0.710    
US CRUDE                $89.51     1.80%     1.580    
DOW JONES             13251.97    -0.74%    -98.99    
ASIA ADRS              130.01     0.85%      1.10    
------------------------------------------------------------->Wa
ll St falls as 'cliff' talks sour,but hope remain 
>Bonds rally as higher yields lure buyers           
>Euro rises broadly on firm German data             
>Oil rises on U.S. budget deal hopes,demand optimism 
    
---STOCKS TO WATCH---  
      
    **SAMSUNG ELECTRONICS **
    The world's top smartphone maker on Tuesday said it would
drop lawsuits aimed at banning the sale of Apple Inc. 
products in Europe just a day after scoring a victory in a
battle in the United States with the maker of iPhones.
 
    
    **KB FINANCIAL GROUP **
    The financial firm's board rejected what would have been a
roughly $2.1 billion acquisition of ING Groep NV's 
South Korean insurance unit after mulling over the deal for
months. 
     
    **HYUNDAI MOTOR ** 
    The South Korean carmaker is recalling about 13,500 of its
2012 Veloster models with sunroofs that may shatter while the
car is moving, the company and U.S. safety regulators said.
nL1E8NJ5W3
    
    **HANWHA CHEMICAL ** 
    The chemicals firm said on Tuesday that a 764 billion won
licence deal for its biosimilar product with Merck Sharp & Dohme
Research was cancelled by the latter.

 (Reporting by Hyunjoo Jin; Editing by Choonsik Yoo and Eric
Meijer)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below