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Seoul shares seen inching up on hints of U.S. fiscal compromise
November 28, 2012 / 11:21 PM / 5 years ago

Seoul shares seen inching up on hints of U.S. fiscal compromise

SEOUL, Nov 29 (Reuters) - Seoul shares are likely to edge up
on Thursday, tracing Wall Street gains as the hints of a
possible compromise on U.S. fiscal talks spurs investor
    "Global stocks have recently tended to focus on one issue,
which is the U.S. fiscal cliff," said Cho Byung-hyun, an analyst
at Tong Yang Securities. 
    "Volatility is expected to be a persistent factor on the
main board until talks surrounding the U.S. fiscal prospects see
tangible progress." 
    U.S. and European stocks recovered from early losses to post
gains as investors shifted into buying mode after perceived
positive news on U.S. budget talks. 
    The Korea Composite Stock Price Index (KOSPI) fell
0.65 percent to close at 1,912.78 points on Wednesday,
retreating from a near three-week high. 

--------------------MARKET SNAPSHOT @22:27 GMT---------------
                  INSTRUMENT    LAST    PCT CHG    NET CHG    
S&P 500               1,409.93     0.79%     10.990    
USD/JPY                  82.02    -0.04%     -0.030    
10-YR US TSY YLD    1.634      --       -0.005    
SPOT GOLD            $1,719.35     0.00%      0.040    
US CRUDE                $86.49    -0.79%     -0.690    
DOW JONES             12985.11     0.83%     106.98    
ASIA ADRS              121.56     0.21%       0.25    
>Wall St jumps in another 'fiscal cliff' swing      
>Bond prices gain on standoff in U.S. budget talks  
>Euro edges lower as Greece, U.S. fiscal woes weigh 
>Oil falls as demand worries trump fiscal cliff hope 

    KB Financial Group Inc is set to decide on the purchase of
ING Groep NV's South Korean insurance unit at a board
meeting on December 5, sources with direct knowledge of the
matter said late Wednesday, in a deal that could be valued at
more than $2 billion. 
    Lotte Non-Life Insurance Co Ltd announced in a regulatory
filing Thursday its plan for a paid-in capital increase of 72.9
billion Korean won ($67.10 million) by issuing new shares, a
decrease from some 79.4 billion won it previously planned to
    Shares in Lotte Non-Life Insurance has fallen 13.1 percent
between the beginning of November and Wednesday. 
($1 = 1086.4000 Korean won)

 (Reporting by Joyce Lee; Editing by Eric Meijer)

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