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Seoul shares seen up after solid U.S. earnings, rise in yen
January 22, 2013 / 11:39 PM / 5 years ago

Seoul shares seen up after solid U.S. earnings, rise in yen

SEOUL, Jan 23 (Reuters) - Seoul shares are likely to gain on
Wednesday, tracing Wall Street as the yen saw a brief rise
against the dollar after the Bank of Japan's announcement of an
open-ended asset buying measure. 
    "The broad trend of a weakening yen is expected to continue,
but the speed could decrease as the Japanese government and the
central bank have somewhat played all the cards it can in the
short term," said Park Sang-hyun, an analyst at HI Investment &
    A weakening yen is bad news for South Korean exporters,
which lead the main index, as it provides a price advantage to
their Japanese rivals. 
    The yen rose against the dollar and euro on Tuesday after
the Bank of Japan said its open-ended commitment to buy assets
would kick in next year. 
    Solid earnings results as well as bank and commodity shares
led both the Standard & Poor's 500 Index and Dow Jones
industrial average to a fresh five-year closing high on Tuesday.
    The Korea Composite Stock Price Index (KOSPI) rose
0.5 percent to close at 1,996.52 points on Tuesday, its highest
finish since Jan. 14. 
--------------------MARKET SNAPSHOT @22:28 GMT--------------- 
                  INSTRUMENT    LAST    PCT CHG    NET CHG    
S&P 500               1,492.56     0.44%      6.580    
USD/JPY                  88.74     0.05%      0.040    
10-YR US TSY YLD    1.844      --        0.004    
SPOT GOLD            $1,692.02     0.02%      0.420    
US CRUDE                $96.24     0.71%      0.680    
DOW JONES             13712.21     0.46%      62.51    
ASIA ADRS              134.37    -0.63%      -0.85    
nks, commodity stocks lift S&P 500 to 5-year high 
>Prices up on housing data, focus on debt limit     
>Yen rises against dollar, euro after BoJ
>Oil rises on BoJ plan, German investor sentiment   

   LG Household & Healthcare Ltd reported late Tuesday an
operating profit of 445.5 billion won ($419.39 million) in 2012,
a 20.4 percent increase from the previous year. The personal
hygiene product maker said it targets an operating profit of 535
billion won in 2013, or a 20.1 percent jump from 2012. 
($1 = 1062.2500 Korean won)

 (Reporting by Joyce Lee; Editing by Stephen Coates)

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