March 14, 2013 / 11:57 PM / 6 years ago

Seoul shares seen choppy as won weakens to 5-month low

SEOUL, March 15 (Reuters) - Seoul shares may be volatile
today as the won weakened to its lowest level in five months, a
boon to exporters but potentially encouraging foreigners to sell
shares in case the won continues to weaken.  
    "We expect the market will be in some disarray today as
recent currency moves may make foreigners want to pull out,
fearing the won may weaken further," said Kim Soon-young, an
analyst at IBK Securities. 
    The won has weakened and was quoted at 1,107.58 against the
dollar at 2320 GMT, a five-month low, easing concerns about
price competitiveness of South Korean exporters. 
    The Dow rose for a 10th straight day and the S&P 500
advanced to just shy of an all-time closing high on Thursday in
a global equity rally spurred by data that pointed to a steadily
improving American economy. 
    The Korea Composite Stock Price Index (KOSPI) closed
0.1 percent higher at 2,002.13 points on Thursday, pulling back
from a 4-week low near mid-session after South Korea's central
bank held interest rates.
------------------MARKET SNAPSHOT @ 22:28 GMT-------------------
S&P 500                1,563.23    0.56%      8.710    
USD/JPY                   96.06   -0.03%     -0.030    
10-YR US TSY YLD     2.037     --        0.000    
SPOT GOLD             $1,590.29    0.03%      0.490    
US CRUDE                 $93.26    0.25%      0.230    
DOW JONES              14539.14    0.58%      83.86    
ASIA ADRS               137.67    0.29%       0.40    
Dow ends up for 10th day, S&P nears record high    
>Long-dated bonds slip as labor market improves     
>Dollar index drops from 7-month high               
>U.S. oil futures settle on strong data             
      The electronics giant unveiled the highly-anticipated
Galaxy S IV phone on Thursday in New York City.
    Expectations for the mobile device had run high, setting the
share price up for a fall if the features of the new product
failed to wow. 
    The tech company will also hold a shareholder meeting in
Seoul on Friday morning.
    Shares in Samsung slipped 0.5 percent lower on Thursday but
were still up 1.4 percent for the week.
    **RNL BIO CO ** 
    Trading in the stem-cell product maker will be suspended
until 0030 GMT after the firm said on Thursday that its capital
impairment percentage exceeded 50.

 (Reporting by Somang Yang; Editing by Eric Meijer)
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