February 27, 2013 / 11:11 PM / in 5 years

Seoul shares seen gaining for 2nd session on Bernanke

SEOUL, Feb 28 (Reuters) - Seoul shares are likely to rise on
Thursday, tracking gains on Wall Street after the Federal
Reserve's commitment to monetary easing lifted investor appetite
for a second session. 
    "Even if the 'sequestration' budget cuts comes to pass in
the U.S., the immediate effects could be offset by monetary
easing since Federal Reserve Chairman Bernanke has expressed the
Fed's commitment to monetary easing," said Sun Yoo, an economist
at Woori Investment & Securities. 
    U.S. stocks rallied for a second straight day on Wednesday
as Fed Chairman Ben Bernanke reaffirmed his commitment to
stimulus efforts, while robust data on U.S. housing and business
spending plans added to the bullish sentiment. 
    The Korea Composite Stock Price Index (KOSPI) rose
0.2 percent to close at 2,004.04 points on Wednesday.
--------------------MARKET SNAPSHOT@ 22:38 GMT------------------
                  INSTRUMENT      LAST     PCT CHG      NET CHG
S&P 500                1,515.99       1.27%       19.050
USD/JPY                   92.24       0.01%        0.010
10-YR US TSY YLD     1.900        --          0.014
SPOT GOLD             $1,596.15      -0.07%       -1.060
US CRUDE                 $92.76       0.14%        0.130
DOW JONES              14075.37       1.26%       175.24
ASIA ADRS               136.08       0.35%         0.48
>Wall St gains on Bernanke comments, S&P above 1,500 
>Prices slip as equity rally lures investors        
>Euro advances;gains likely capped by Italy concerns 
>Brent falls near month-low under $112              

    **HANWHA **
    Hanwha Corp, a holding company of South Korea's 10th-largest
conglomerate Hanwha Group, reported on late Wednesday a 2012 net
profit of 318.6 billion won ($293.8 million), a 241 percent jump
from the previous year. 
    Hanwha Corp's fourth-quarter operating profit reached 120.5
billion won, which analysts said exceeded market expectations,
due to increased profit from Hanwha Group's defence and hotel
    Securities brokerage Woori Investment & Securities Co Ltd
reported on late Wednesday an operating profit of 6.1 billion
Korean won in the quarter between October-December, down 89
percent from the same quarter in 2011. 
($1 = 1084.4250 Korean won)

 (Reporting by Joyce Lee; Editing by Richard Pullin)
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