* Auto sub-index falls 1.4 pct; Hyundai down 1.6 pct
* Samsung Elec up 0.9 pct after unveiling new tablet
By Somang Yang
SEOUL, Feb 25 Seoul shares were flat on Monday
morning as auto shares came under pressure on news that an
advocate of aggressive monetary easing was poised to head the
Bank of Japan.
The Korea Composite Stock Price Index (KOSPI) ticked
0.04 percent lower to 2,018.26 points as of 0227 GMT, after a
2.6 percent gain the previous week.
"The index is taking a breather following last week's
rally," said Bae Sung-young, an analyst at Hyundai Securities.
"However, auto-related shares are in correction after Kuroda
became a frontrunner for the head of the Bank of Japan."
Japan's government is likely to nominate Asian Development
Bank President Haruhiko Kuroda, an advocate of aggressive
monetary easing, as its next central bank governor, sources told
Reuters on Monday.
Quantitative easing has driven down the value of the yen,
making Japanese car exports more competitive abroad vis-a-vis
South Korean rivals.
The auto sub-sector index fell 1.4 percent,
accounting for 0.2 percent of the index's move, with carmarker
Hyundai Motor down 1.6 percent.
Market heavyweight Samsung Electronics bucked
the trend, rising 0.9 percent after unveiling its Galaxy Note 8
phablet at the Mobile World Congress in Barcelona, Spain.
J.K. Shin, the head of Samsung's mobile division, told
reporters on Sunday that the electronics giant plans on doubling
its share of the tablet PC market this year. He also confirmed
that the Galaxy S4, the successor to the blockbuster smartphone
Galaxy S3, will be unveiled in New York on March 14th.
"Samsung's goal of doubling its share of the tablet market
is achievable, given that it has just 10 percent currently,"
said Lee Sun-tae, an analyst at NH Investment & Securities.
"We don't yet know how the Galaxy Note 8 will be priced, nor
whether it will be sold as a tablet or a phone, so it is too
early to tell if it will be a direct competitor to the iPad
Declining and advancing shares were almost even, with 376
losers compared to 367 winners.
The KOSPI 200 benchmark of core stocks was flat,
while the junior KOSDAQ edged 0.3 percent higher.
(Editing by Jacqueline Wong)