Seoul shares seen higher; falling trade volume eyed

SEOUL, Nov 5 (Reuters) - Seoul shares look set to rise on Thursday, tracking U.S. market gains and in an attempt to recoup some of their deep falls in the past month, but any advances are seen as technical given the lack of a fresh impetus.

The U.S. Federal Reserve expressed growing confidence that an economic recovery was building, but stuck to its commitment to keep rates near zero for an "extended period." [ID:nN04453484]

Daily trade volume in the domestic bourse shrank to a 14-month low on Wednesday, signalling investors are hesitant to buy stocks amid concerns corporate earnings might weaken in the current quarter.

"The market seems to have found its near-term bottom at the 1,550 point level," said In Nojung, a senior analyst at Solomon Investment & Securities.

"But considering demand and transaction volume, any gains should be viewed as technical following heavy falls."

The Korea Composite Stock Price Index reversed a six-day losing streak on Wednesday, gaining 1.94 percent to close at a session high of 1,579.93 points. ----------------------MARKET SNAPSHOT @ 2241 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 .SPX 1046.5 0.1% 1.090 USD/JPY JPY= 90.79 0.06% 0.050 10-YR US TSY YLD US10YT=RR 3.5199 -- 0.051 SPOT GOLD XAU= 1091.45 -0.08% -0.900 US CRUDE CLc1 80.26 0.83% 0.660 DOW JONES .DJI 9802.14 0.31% 30.23 ASIA ADRS .BKAS 121.03 0.82% 0.99 -------------------------------------------------------------

MARKET SUMMARY *Wall St rally fades late after Fed; Cisco up late [nN0458750] *Oil rises for 3rd day on inventory drop, Fed [nSP538800] *Dollar tumbles as Fed to keep US rates low [nN04579728] *Treasuries fall amid supply worry; Fed holds rates [nN04554435]

STOCKS TO WATCH

SAMSUNG ELECTRONICS (005930.KS)

Wireless chip supplier Qualcomm Inc (QCOM.O) forecast weaker than expected full-year results, but its extension of a key deal with Samsung Electronics helped offset the disappointment for some investors. [ID:nN04196215]

DAEWOO INTERNATIONAL (047050.KS)

The Maeil Business Newspaper reported on Thursday that a sale advertisement for a majority of the energy developer would be posted in December to pick a preferred buyer either in March or April, citing unnamed industry sources.

(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)