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Seoul shares may rise, but gains limited before China GDP
July 14, 2013 / 11:39 PM / 4 years ago

Seoul shares may rise, but gains limited before China GDP

SEOUL, July 15 (Reuters) - Seoul shares may open slightly
higher on Monday after Wall Street rose the session before, but
caution ahead of a raft of key Chinese economic data later in
the day will likely cap gains, analysts said.
    "All eyes are on China today. The market will likely move
sideways as investors await the data," said Lee Eun-taek, a
market analyst at Dongbu Securities.
    China, South Korea's biggest export destination, is due to
report GDP for April-June, along with indicators including
industrial output and retail sales. 
    Industrial material companies and heavy industry firms such
as steelmakers and shipbuilders will be most sensitive to the
numbers from Beijing.
    Elsewhere, oil refiners like SK Innovation Co Ltd
 could see support from a rebound in crude oil prices
in U.S. trade on Friday. 
    The Korea Composite Stock Price Index (KOSPI) ended
down 0.4 percent at 1,869.98 points on Friday.

------------------ MARKET SNAPSHOT @ 22:34 GMT -----------------
                  INSTRUMENT      LAST      PCT CHG      NET CHG
S&P 500                1,680.19        0.31%        5.170
USD/JPY                   99.22        0.01%        0.010
10-YR US TSY YLD     2.592         --          0.000
SPOT GOLD             $1,293.81        0.74%        9.520
US CRUDE                $105.90       -0.05%       -0.050
DOW JONES              15464.30        0.02%         3.38
ASIA ADRS               140.62       -0.37%        -0.53
----------------------------------------------------------------
>WallSt rise on banks result;S&P best week since
Jan 
>Bonds mark narrow losses as traders take profits  
 
>Dollar heads for weekly loss;bullish outlook
intact 
>US gasoline jumps on outages, dragging crude
higher 
    
    STOCKS TO WATCH
    
    SHIPYARDS
    Shipping firms such as Hanjin Shipping Co Ltd 
may be buoyed after the Baltic dry index, which measures
the cost of shipping key commodities, advanced 0.9 percent.   
    
    HYUNDAI MOTOR CO LTD 
    Hyundai Motor still expects its U.S. sales to grow by 4.4
percent this year even though it is dealing with production
capacity constraints brought on by its decision to slow
expansion globally. 
    

 (Reporting by Jungyoun Park; Editing by Joseph Radford)

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