November 25, 2012 / 11:31 PM / 5 years ago

Seoul shares seen gaining, US holiday sales off to good start

SEOUL, Nov 26 (Reuters) - Seoul shares are likely to gain on
Monday, helped by a promising start to the U.S. holiday shopping
season, while concerns about U.S. fiscal woes and Europe's debt
crisis have receded somewhat.
   "The KOSPI is expected to continue on an upward trend this
week after it saw a weekly increase of 2.7 percent last week and
surpassed the 1,900 mark," said Han Beom-ho, an analyst at
Shinhan Investment Corp.
   U.S. shoppers went to stores earlier and bought online more
than before this Thanksgiving weekend, giving retailers a strong
start to the holiday shopping season, data showed on Sunday.
    Global stocks and the euro gained on Friday on signs of
progress in talks on releasing aid to Greece and after an
influential German survey found business sentiment had improved
in Europe's largest economy. U.S. stocks rose for a fifth day in
a low-volume trading session. 
    The Korea Composite Stock Price Index (KOSPI) closed
up 0.6 percent at 1,911.33 points on Friday.
-------------------MARKET SNAPSHOT @22:27 GMT------------------
                   INSTRUMENT     LAST    PCT CHG  NET CHG    
S&P 500                  1,409.15      1.3%   18.120    
USD/JPY                     82.33     -0.1%   -0.080    
10-YR US TSY YLD       1.693      --      0.000    
SPOT GOLD               $1,752.39     0.00%    0.000    
US CRUDE                   $88.28     1.03%    0.900    
DOW JONES                13009.68     1.35%   172.79    
ASIA ADRS                 122.41     1.80%     2.16    
ll St ends higher in short session, led by techs 
>US bonds fall, less safe haven demand              
>Euro heads for second week of gains on Greece hope 
>Oil rises on Egypt violence, euro zone optimism    

    Hanwha Chemical Corp reported late Friday a third-quarter
operating profit of 40.3 billion Korean won, a 51 percent
decrease from the same period in 2011. 
    **KANGWON LAND ** 
    Casino operator Kangwon Land Inc said in a regulatory filing
 late Friday it officially submitted a request to increase its
gaming tables and machines from a total of 1,092 to 1,560.

 (Reporting by Joyce Lee; Editing by Edwina Gibbs)
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