November 8, 2012 / 11:28 PM / 5 years ago

Seoul shares seen falling on U.S. fiscal concern

SEOUL, Nov 9 (Reuters) - Seoul shares are likely to tick
down on Friday, tracking a second day of Wall Street stock
losses on U.S. fiscal worries, while Chinese economic data due
later may have only a limited impact.
    "Since the election, investor attention has turned to
the U.S. fiscal cliff and the ongoing European financial
situation," said Kim Soo-young, an analyst at KB Investment &
Securities. 
    "The main board is seen mirroring the drop in U.S. stocks
last night, remaining mostly rangebound due to these
macroeconomic risks." 
    He said China's consumer and producer price indices, to be
released later, were unlikely to move markets too far, as even
weak data could be viewed positively by investors as it would
increase the likelihood of government stimulus.
    U.S. stocks fell on Thursday and could be in line for more
weakness as concern about Washington's ability to find a timely
solution to the "fiscal cliff" dominates investor thinking in
coming weeks. 
    The Korea Composite Stock Price Index (KOSPI) fell
1.19 percent to close at 1,914.41 points on Thursday.
    
-------------------MARKET SNAPSHOT @22:13 GMT---------------
                 INSTRUMENT     LAST      PCT CHG   NET CHG    
S&P 500                1,377.51     -1.22%   -17.020    
USD/JPY                   79.43     -0.03%    -0.020    
10-YR US TSY YLD     1.618       --      -0.026    
SPOT GOLD             $1,730.19      0.01%     0.200    
US CRUDE                 $85.03      0.70%     0.590    
DOW JONES              12811.32     -0.94%   -121.41    
ASIA ADRS               118.74     -0.86%     -1.03    
------------------------------------------------------------->Wa
l St falls as U.S. fiscal worries weigh         
>Bonds jump, spurred by fiscal cliff, Europe fears  
>Euro hit two-month low vs dollar after ECB ratehold 
>Oil rebound after plunge,economy concern limit rise 

---STOCKS TO WATCH---  

    **CJ HELLOVISION **
    Shares in CJ Hellovision Co Ltd, South Korea's largest cable
television operator, are set to debut on the main KOSPI market
on Friday. CJ Hellovision set its initial public offering price
at 16,000 won per share, near the lower band of the indicative
range. 
    
    **LOTTE SHOPPING ** 
    Lotte Shopping Co Ltd reported late Thursday its
third-quarter operating profit of 285.5 billion won ($262.1
million) dropped 19.5 percent from the third quarter of 2011. 
    
    **WOONGJIN COWAY **
    Woongjin Holdings Co Ltd, the largest
shareholder of water purifier maker Woongjin Coway Co Ltd
, submitted to a South Korean court late Thursday a
proposal to sell Coway to private equity fund MBK Partners for
1.2 trillion won, local newspaper Korea Economic Daily and other
media reported.
    The sale had previously been halted when Woongjin Holdings
applied for court receivership in late September.
 
       
($1 = 1089.5000 Korean won)

 (Reporting by Joyce Lee; Additional reporting by Caroline
Valetkevitch; Editing by Richard Pullin)

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