August 5, 2013 / 12:04 AM / 4 years ago

Seoul shares seen opening flat on mixed economic data

SEOUL, Aug 5 (Reuters) - South Korean shares look set to
open flat on Monday as investors seek clarity on where the
global economy is headed after U.S. indicators gave a mixed
picture of the economy.
    "Uncertain sentiment (about the economy after) the U.S. job
market data will cause the market to move within a narrow range
this morning," said Lee Eun-taek, a market analyst at Dongbu
Securities, despite gains in the U.S. markets on Friday.
    The U.S. jobs report showed non-farm payrolls rose by
162,000 in July, below expectations, but the unemployment rate
fell to 7.4 percent, its lowest since December 2008. Investors
in U.S. stocks took the mixed data as a factor to make the
Federal Reserve more cautious about scaling back its massive
economic stimulus. 
    But steelmaker POSCO is expected to extend its
recent rally as Chinese competitors increased their steel prices
and as the yen unexpectedly firmed. A stronger yen makes
South Korean exports more competitive in terms of pricing.
    The Korea Composite Stock Price Index (KOSPI) closed
0.1 percent at 1,923.38 points on Friday.

------------------MARKET SNAPSHOT @ 22:40 GMT-------------------
                  INSTRUMENT        LAST     PCT CHG     NET CHG
S&P 500                  1,709.67       0.16%       2.800
USD/JPY                     98.88       -0.05%      -0.05
10-YR US TSY YLD       2.598        --         0.000
SPOT GOLD               $1,314.13       0.20%       2.630
US CRUDE                  $106.83      -0.10%      -0.110
DOW JONES                15658.36       0.19%       30.34
ASIA ADRS                 143.08       1.13%        1.60
>Dow,S&P500 end at record for 2nd day despite tepid job data 
>Yields fall as job growth lags expectations               
>Dollar drops broadly after weaker-than-forecast jobs data 
>Oil slips on U.S. jobs data disappointment                

   BS Financial Group announced its second-quarter earnings 
late on Friday. The company's net profit rose 5 percent
year-on-year - the only financial group in the country to enjoy
an increase in net profit for the second quarter.

    Samsung C&T Corp said in a regulatory filing
late on Friday that over the past five sessions it has acquired
245,481 shares in affiliate Samsung Engineering. The shares
Samsung C&T acquired were worth a total of 20.7 billion won
($18.42 million) as of Friday's closing price.

 (Reporting by Jungmin Jang; Editing by Choonsik Yoo)

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