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RPT-Seoul shares seen rangebound; earnings hopes lend support
March 18, 2012 / 11:46 PM / 6 years ago

RPT-Seoul shares seen rangebound; earnings hopes lend support

(Repeats to fix formatting)	
    SEOUL, March 19 (Reuters) - Seoul shares are seen trapped in
a narrow range on Monday but investors are likely to continue to
pile into large blue chips on positive earnings expectations for
the first quarter, analysts said.	
    "It looks to be a quiet day on the market, with investors
stocking up on blue chips such as techs and automakers, as well
as other issues that look poised for an earnings surprise," said
Oh On-su, an analyst at Hyundai Securities, adding the index was
seen confined to the 2,010-2,060 range throughout the session.	
    On Friday, the S&P 500 closed out its best week in three
months with a slim gain driven by energy shares as investors
continued to propel equities near four-year highs.	
    The Korea Composite Stock Price Index (KOSPI) fell
0.5 percent to close at 2,034.45 points on Friday, but still
posted a weekly gain of 0.8 percent.	
--------------MARKET SNAPSHOT @ 22:19 GMT ---------------	
                INSTRUMENT      LAST     PCT CHG   NET CHG    	
S&P 500                1,404.17    0.11%     1.570    	
USD/JPY                  83.38    -0.01%    -0.010    	
10-YR US TSY YLD    2.298      --       0.000    	
SPOT GOLD              $1,657.67   0.25%     4.180    	
US CRUDE                $107.26    0.19%     0.200    	
DOW JONES               13232.62  -0.15%   -20.14    	
ASIA ADRS               131.30    0.12%     0.16    	
>S&P 500 ends best week since Dec with quiet day   
>Prices fall for 8th day on better economic outlook 	
>Dollar drops but trajectory seen upward on data   	
>Oil climbs on Iran tensions, weak dollar          	
According to local media reports, a U.S. production line run by
unlisted South Korean auto parts maker Daehan Solutions, a key
supplier of Kia Motors, suffered a major fire that
could impact production of Kia vehicles.	
Hanjin Heavy Industries said in a regulatory filing
on Friday that it was negotiating a new ship order with an
unspecified client in Europe.	
Lotte Shopping Co Ltd posted 95.9 billion won
($85.18 million) in losses last year from operations in China,
Vietnam and Indonesia, local media said. 	
 (Reporting by Joonhee Yu; Editing by Jonathan Hopfner)

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