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Seoul shares may open up, exporters seen gaining from yen strength
May 30, 2013 / 11:33 PM / 5 years ago

Seoul shares may open up, exporters seen gaining from yen strength

SEOUL, May 31 (Reuters) - Seoul shares may open higher on
Friday as they track gains on Wall Street amid optimism the
Federal Reserve will press on with its stimulus programme, and
with exporters likely to benefit from strength in the Japanese
yen, analysts said.
    "The market will open up in positive territory. We expect
foreign buying to continue on the back of the U.S. dollar's
weakness," said Park Jeong-woo, a market analyst at Samsung
    Technology and auto exporters are likely to benefit from the
rising Japanese yen, which helps South Korean exporters compete
with Japanese rivals, Park said.
    Against the yen, the U.S. dollar fell 0.44 percent to 100.69
yen, retreating from a session peak of 101.80
    The Korea Composite Stock Price Index ended nearly
flat on Thursday, down 0.05 percent at 2,000.10 points.
-----------------MARKET SNAPSHOT @ 22:37 GMT--------------------
                  INSTRUMENT         LAST     PCT CHG    NET CHG
S&P 500                   1,654.41       0.37%      6.050
USD/JPY                     100.91       0.19%      0.190
10-YR US TSY YLD        2.119        --        0.000
SPOT GOLD                $1,413.40       0.01%      0.150
US CRUDE                    $93.59      -0.02%     -0.020
DOW JONES                 15324.53       0.14%      21.73
ASIA ADRS                  139.28       0.56%       0.78
>Wall St ends up on optimism Fed stimulus to remain 
>Prices near flat as investors weigh Fed's course   
>US dollar slide as soft data offsets Fed taper talk 
>Crude oil end mixed,sway by view on economy and Fed 
    Samsung Electronics unveiled a stripped-down version of its
flagship Galaxy S4 smartphone on Thursday, aiming to grab a
bigger share in the mid-tier segment as growth in the high-end
market slows. 
    South Korean steelmaker POSCO has bought out its partner in
an Australian coal project in a rare deal that could indicate
nascent Asian interest in coal assets following a slump in
prices for the commodity.     

 (Reporting by Jungyoun Park; Editing by Stephen Coates)

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