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Seoul shares likely to fall; investors keep eye on yen after G20
February 17, 2013 / 11:41 PM / 5 years ago

Seoul shares likely to fall; investors keep eye on yen after G20

Feb 18 (Reuters) - South Korean stocks are set to lose
ground on Monday, as expectations subsided that the meeting of
the Group of 20 nations would help slow down the pace of the
Japanese yen's depreciation.
    Japan's expansive policies, which have driven down the yen,
escaped direct criticism in a statement thrashed out in Moscow
by policymakers from the G20. 
    A weaker yen benefits Japanese exporters, which directly
compete with South Korean firms in automobile and other sectors
in overseas markets.
    "Two powerful countries the United States and Japan are
having loose monetary policy, so it will be difficult to curb
the depreciation of their currencies," said Kang Hyun-ki, an
analyst at IM Investment & Securities.
    The Korea Composite Stock Price Index (KOSPI) added 
0.08 percent on Friday to 1,981.18 points. The KOSPI gained 1.6
percent last week, its biggest weekly gain in two months.
---------------------MARKET SNAPSHOT @22:25 GMT--------------
                  INSTRUMENT    LAST    PCT CHG     NET CHG    
S&P 500               1,519.79     -0.1%      -1.590    
USD/JPY                  93.89     0.44%       0.410    
10-YR US TSY YLD    2.005      --         0.000    
SPOT GOLD            $1,609.19     0.00%       0.000    
US CRUDE                $96.04    -1.31%      -1.270    
DOW JONES             13981.76     0.06%        8.37    
ASIA ADRS              136.35    -0.34%       -0.46    
------------------------------------------------------------->Wa
ll Street ends slightly down, S&P positive       
>Bond yields up on consumer sentiment               
>Yen retreats as Japan not singled out in draft G20 
>Oil sink,Brent head for first weekly loss since Jan 

    ---STOCKS TO WATCH---
    **LG DISPLAY **
    The South Korean flat-screen maker said on Monday it would
invest 706 billion won ($654.8 million) to manufacture
next-generation displays used in televisions. 
    
    **LG ELECTRONICS **
    The South Korean electronics firm said it plans to invest
$300 million to build a home appliance manufacturing factory in
Vietnam by 2020 after combining the existing two production
bases, news reports said.
    
    **SAMSUNG TECHWIN,  DOOSAN HEAVY **
    Two affiliates of South Korean conglomerates Samsung and
Doosan said on Friday that they may make bids for
AnsaldoEnergia, the power engineering unit of Italy's indebted
defense firm, Finmeccanica SpA. 

 (Reporting by Hyunjoo Jin; Editing by Shri Navaratnam)

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