Seoul shares seen higher as Fed minutes renew easing hopes

SEOUL, Aug 23 (Reuters) - Seoul shares are set to rise at
the open on Thursday, after minutes from the Federal Reserve
hinted that the U.S. central bank may deliver another round of
monetary stimulus "fairly soon", barring a big pick-up in the
economy.
"The market will react positively to the news, except
stimulus hopes have already lifted shares to such high levels
that any gains could be limited until these expectations are
realized," said Lee Young-gon, an analyst at Hana Daetoo
Securities.
"The market is still undergoing a cycle of profit-taking
after a sharp rally, and will continually face resistance at
1,950 points until these sell-offs are digested," Lee said.
The Korea Composite Stock Price Index (KOSPI) fell
0.41 percent to close at 1,935.19 points on Wednesday.
U.S. home resales rose in July, helped by low interest rates
and increased hiring, although the data still pointed to a slow
recovery in housing. ID:nL2E8JLC5M]
Greek Prime Minister Antonis Samaras met Eurogroup chief
Jean-Claude Junker on Wednesday to ask for more time in meeting
austerity goals. Junker appeared receptive to a possible
extension, but warned Greece was staring at its "last chance" to
avoid a chaotic default.

------------------MARKET SNAPSHOT @ 22: 11
GMT----------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1,413.49 0.02% 0.320
USD/JPY 78.56 -0% 0.000
10-YR US TSY YLD 1.695 -- 0.000
SPOT GOLD $1,653.06 0.47% 7.670
US CRUDE $97.30 0.04% 0.040
DOW JONES 13172.76 -0.23% -30.82
ASIA ADRS 120.41 -0.01% -0.01
-------------------------------------------------------------
>S&P 500 finishes flat on Fed minutes
>Yields fall after Fed minutes
>US dollar pummeled by Fed minutes
>Oil rises on Fed minutes, U.S. inventory drop

(Reporting by Joonhee Yu; Editing by Richard Pullin)