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REFILE-Seoul shares seen rangebound, Samsung earnings in focus
April 5, 2012 / 11:44 PM / 5 years ago

REFILE-Seoul shares seen rangebound, Samsung earnings in focus

(Repeats to remove extraneous text, fix formatting)	
    By Joonhee Yu	
    SEOUL, April 6 (Reuters) - Seoul shares are seen stuck in a
narrow range on Friday with momentum grinding to a halt over
Spain's debt burden, but investors may be buoyed by a
stronger-than-expected first-quarter earnings estimate released
by Samsung Electronic's early on Friday morning.	
    "Concerns over Spain's borrowing costs were already priced
in yesterday as evidenced by the later rebound in the index, but
it also leaves very little headroom for gains. All eyes are on
Samsung earnings at the moment," said Gwak Hyun-soo, an analyst
at IBK Securities.	
    Tech giant Samsung Electronics Co Ltd, the
largest listed share on the KOSPI index that accounts for over
16 percent of its total market capitalization, reported 5.8
trillion won ($5.15 billion) in estimated profits on Friday
morning, which would represent a quarterly record if official,
smashing the consensus forecast of 5.0 trillion won.	
    Spanish 10-year government bond yields rose as
high as 5.86 percent on Thursday to follow up a weak bond
auction on Wednesday, fuelling worries that the effect of the
European Central Bank's two massive liquidity operations may be
coming to an abrupt halt.	
    The market had a muted reaction to U.S. jobs data showing
the number of Americans lining up for new jobless benefits
dropped to the lowest level in nearly four years last
week. 	
    The Korea Composite Stock Price Index (KOSPI) 
finished up 0.5 percent to close at 2,028.77 points on Thursday.	
    	
-----------------MARKET SNAPSHOT @ 22:35 GMT--------------------	
                INSTRUMENT    LAST     PCT CHG     NET CHG    	
S&P 500               1,398.08   -0.06%     -0.880    	
USD/JPY               82.32      -0.04%     -0.030    	
10-YR US TSY YLD 2.181        --        0.000    	
SPOT GOLD             $1,627.44  -0.19%     -3.140    	
US CRUDE              $103.31     0.00%      1.840    	
DOW JONES             13060.14   -0.11%     -14.61    	
ASIA ADRS            127.27      0.32%      0.41    	
----------------------------------------------------------------	
>US STOCKS-S&P 500 posts worst week in 2012       	
>Prices climb as Europe fear spurs safety bid     	
>Euro hits multiweek lows, breaks SNB's 1.20 franc 	
>Oil rises as US data, supply fears fuel rebound  	
    	
($1 = 1127.2750 Korean won)	
	
 (Reporting by Joonhee Yu)

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