January 16, 2013 / 11:41 PM / 5 years ago

Seoul shares seen range-bound after global stocks close flat

SEOUL, Jan 17 (Reuters) - Seoul shares are likely to trade
in a tight range on Thursday, tracing global stocks' lacklustre
performance on Wednesday as concerns about world economic growth
undermined the effect of U.S. banks' strong earnings results. 
    "Fourth-quarter earnings results for U.S. companies have
been better than expected, lifting investor outlook. However,
concerns over the fiscal slope continue to weigh, and the main
board is expected to see choppy trading above the 1,950-mark,"
said Kim Soon-young, an analyst at IBK Securities. 
    World stock markets ended flat on Wednesday as strong
financial results lifted banking shares, though weak data from
Europe raised concerns about the global growth rate.
   The Korea Composite Stock Price Index (KOSPI) fell
0.3 percent to close at 1,977.45 points on Wednesday, its lowest
level since Dec. 12, due to the souring outlook for exporters as
the won weakens. 
----------------MARKET SNAPSHOT @ 22:31 GMT -------------------
                 INSTRUMENT      LAST      PCT CHG     NET CHG
S&P 500               1,472.63        0.02%       0.290
USD/JPY                  88.44        0.07%       0.060
10-YR US TSY YLD    1.819         --        -0.017
SPOT GOLD            $1,679.47        0.03%       0.580
US CRUDE                $94.24        1.03%       0.960
DOW JONES             13511.23       -0.17%      -23.66
ASIA ADRS              133.67       -0.83%       -1.12
>S&P 500 flat as bank profits temper growth concerns 
>U.S. bond prices rise on view on Fed purchases     
>Yen rise vs dollar;ECB's Nowotny briefly boost euro 
>Oil rise on Algerian gas field attack,US stock draw 

    Hanjin Heavy Industries & Construction Co Ltd said late
Wednesday it would issue 21 million new shares in a paid-in
capital increase to raise 180.2 billion Korean won ($170.20
million) in operating funds. The issue price is expected to be
8,580 won per share, and will be finalised on March 11. 
    Shares in Hanjin Heavy plummeted 14 percent on Wednesday
after investors shed shares on rumours of the paid-in capital
    **YOUNGONE **
    Youngone Corp said late Wednesday it would newly list 3.5
million shares on the Singapore Exchange in order to issue $130
million in global depository receipts in February. 
    The outdoor apparel maker said it will use the funds to
expand its production facilities in Bangladesh and Vietnam.     
($1 = 1058.7500 Korean won)

 (Reporting by Joyce Lee; Editing by Stephen Coates)

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