December 26, 2012 / 11:46 PM / 5 years ago

Seoul shares seen range-bound; ex-dividend volatility expected

SEOUL, Dec 27 (Reuters) - Seoul shares are likely to stay
range-bound on Thursday as trade remains thin, with some
volatility expected as stocks go ex-dividend, while uncertainty
over U.S. fiscal talks is seen discouraging large bets.
    "Uncertainty from the U.S. fiscal cliff has sapped investor
initiative, and the market currently lacks energy due to low
turnover," said Lee Kyung-min, an analyst at Woori Investment &
Securities.    
    Lee said increased volatility is possible as shares on
Thursday go ex-dividend, meaning that people who buy after then
will not qualify for dividends for the current reporting period.
But he said historical patterns suggested that any volatility
was not expected to last long.
    U.S. stocks fell for a third straight day on Wednesday,
dragged lower by retail stocks after a report showed consumers
spent less in the holiday shopping season than last year.
 
    The Korea Composite Stock Price Index (KOSPI) was
nearly flat on Wednesday, closing up 0.02 percent at 1,982.25
points. 
-------------------MARKET SNAPSHOT @22:35 GMT---------------
                INSTRUMENT    LAST    PCT CHG   NET CHG    
S&P 500               1,419.83    -0.48%    -6.830    
USD/JPY                  85.51    -0.13%    -0.110    
10-YR US TSY YLD    1.749      --      -0.026    
SPOT GOLD            $1,658.94    -0.03%    -0.550    
US CRUDE                $90.98     2.67%     2.370    
DOW JONES             13114.59    -0.19%    -24.49    
ASIA ADRS              130.30     0.35%      0.46    
------------------------------------------------------------->Wa
ll St drops for 3rd day, led by retailers        
>Prices gain as U.S. fiscal deadline approaches     
>Yen falls sharply as Japan's Abe vows to weaken it 
>Oil jumps to nine-week high on US fiscal talks     

---STOCKS TO WATCH---  
    **KOREA LINE **
    Five bidders including SK Shipping Co Ltd and CJ Group
entered preliminary bids to acquire management control of
shipper Korea Line Corp through a paid-in capital increase, the
Korea Economic Daily reported on Thursday.
    Korea Line Corp had a market capitalisation of 75.4 billion
won ($70 million) as of Wednesday's close. 
    
    **HANWHA LIFE INSURANCE **
    Hanwha Life Insurance Co Ltd said on Wednesday it had
acquired an 80 percent stake in Indonesian insurance company
Multicor Life Insurance Pt for roughly 14 billion won ($13
million).
($1 = 1073.3500 Korean won)

 (Reporting by Joyce Lee; Editing by Chris Gallagher)

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