March 17, 2013 / 11:37 PM / 7 years ago

Seoul shares likely to be hurt by Cyprus bailout uncertainty

SEOUL, March 18 (Reuters) - Seoul shares are likely to be
dogged by uncertainty surrounding a proposed bailout for Cyprus,
the latest trouble spot in the euro zone.
    "A parliamentary vote is due later today, which will weigh
on investor sentiment. However, it won't drain the index just
yet as most of this has been foretold since last year," said Han
Beom-ho, an analyst at Shinhan Investment & Securities. 
    Cyprus was working on a last-minute proposal to soften the
impact on smaller savers of a bank deposit levy after a
parliamentary vote on the measure central to a bailout was
postponed until Monday, a government source said.
{ID:nL6N0C908X]
    The Korea Composite Stock Price Index (KOSPI) fell
0.8 percent to close at 1,986.50 points, near a one-month low on
steep foreign selling. The KOSPI is down 0.5 percent for the
year.
-----------------MARKET SNAPSHOT @ 22:28 GMT------------------- 
INSTRUMENT    LAST    PCT CHG    NET CHG    
S&P 500              1,560.70     -0.16%     -2.530    
USD/JPY                 94.77      -0.5%     -0.480    
10-YR US TSY YLD   1.991       --        0.000    
SPOT GOLD           $1,606.31      0.91%     14.470    
US CRUDE               $92.83     -0.66%     -0.620    
DOW JONES            14514.11     -0.17%     -25.03    
ASIA ADRS             137.28     -0.28%      -0.39    
------------------------------------------------------------->Do
w retreats from 10-day rally; JPMorgan weighs    
>Prices rise as consumer sentiment takes a hit      
>Euro skids in Asia as Cyprus deal alarms           
>Oil gains on weaker U.S. dollar                    
    

 (Reporting by Somang Yang; Editing by Edwina Gibbs)
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