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Seoul shares seen easing from 7-mth high
March 14, 2012 / 11:43 PM / 6 years ago

Seoul shares seen easing from 7-mth high

SEOUL, March 15 (Reuters) - Seoul shares may get off to a weak start on Thursday, following a pause in U.S. markets, and are then likely to hold in a narrow range as investors consolidate gains after the main index’s rally this week to seven-month highs.

”Overnight futures activity is pointing to a slight pullback, although losses look to be limited with ample liquidity providing a cushion, said Kwak Hyun-soo, an analyst at IBK Securities.

“Investors are now back in search for a new source of momentum.”

The Korea Composite Stock Price Index (KOSPI) rose 0.99 percent on Wednesday to end at 2,045.08 points, its highest close since August.

In New York, the S&P 500 broke a five-day streak of gains on Wednesday as investors found little reason to extend a rally that took the benchmark index to four-year highs.

---------------MARKET SNAPSHOT @ 21:53 GMT ------------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,394.28 -0.12% -1.670 USD/JPY 83.68 -0% 0.000 10-YR US TSY YLD 2.274 -- 0.148 SPOT GOLD $1,642.10 0.00% 0.000 US CRUDE $105.51 0.08% 0.000 DOW JONES 13194.10 0.12% 16.42 ASIA ADRS 130.05 -1.15% -1.51 ------------------------------------------------------------- >Wall St retreats after rally, but Apple up again >US Treasuries drop as Fed outlook curbs safety bid >Dollar jumps vs euro and yen on yields, Fed stance >Oil falls on U.S. stock build, Iran eyed



Hanjin Shipping is a member of a transpacific container shipping group that has recommended a new $400 hike in freight rates to take effect on April 15 in a bid to bring up rates from loss-making levels.


Flat screen maker LG Display Co Ltd is supplying touch-screen panels for Apple Inc’s new iPad, which has seen record pre-orders ahead of its scheduled release on March 16. (Reporting by Joonhee Yu)

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