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Seoul shares seen climbing as new president takes office
February 24, 2013 / 11:21 PM / 5 years ago

Seoul shares seen climbing as new president takes office

SEOUL, Feb 25 (Reuters) - Seoul shares are likely to inch up
on Monday, continuing last week's rally, as a new president who
has shown willing to curb the won's rise takes office.
    "The KOSPI is safely above the 2,000-mark, catching up to
global markets after its setback in January," said Lee Jae-hoon,
an analyst at Mirae Asset Securities. 
    Lee added that the rally is likely to continue until the
index reaches the 2,050-mark, at which point it will face some
sell-off pressure.
    Seoul shares underperformed major world stock markets in
January, dogged by concern for its exporters amid a weakening
yen and a rising won, but have climbed 2.9 percent in February.
    The nation's first female leader, Park Geun-hye, is being
sworn in on Monday. Park has shown her willingness to talk down
the won in recent days, which has buoyed exporters.
    The Korea Composite Stock Price Index (KOSPI) rose 0.2
percent to close at 2,018.89 points on Friday. 
------------------MARKET SNAPSHOT @ 22:28 GMT-------------------
S&P 500                1,515.60      0.88%    13.180    
USD/JPY                   94.23      0.91%     0.850    
10-YR US TSY YLD     1.962       --       0.000    
SPOT GOLD             $1,580.90      0.04%     0.600    
US CRUDE                 $93.13      0.31%     0.290    
DOW JONES              14000.57      0.86%    119.95    
ASIA ADRS               136.49      1.50%      2.02    
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>Oil slightly higher for day, down for the week     
    The electronics giant unveiled the latest device in its
Galaxy Note series on Sunday at the eve of the Mobile World
Congress in Barcelona, Spain.
    The Galaxy Note 8 is a "phablet"; a combination of a tablet
computer and a mobile phone, complete with a pen pointer.

 (Reporting by Somang Yang; Editing by Eric Meijer)

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