Seoul shares seen lower amid worries over China, US

May 24, 2013 by  
Filed under Solar Energy Tips


Thu May 23, 2013 7:46pm EDT

SEOUL, May 24 – Seoul shares may open lower on Friday as
investors digest weak Chinese manufacturing data and the
possibility of less monetary stimulus in the United States,
analysts said.

“The prospects of an exit strategy by the U.S. Fed and
weakness in Chinese PMI will continue to drag the market today,”
said Lee Kyoung-soo, a market analyst at Shinyoung Securities.

“At times like this investors will look to corporate
earnings for hope but even that is not very strong overall,” Lee
said.

Investors may seek shelter in defensive plays in the
telecommunications sector and other less cyclical stocks which
pay high dividends.

But refiners could take a hit after Brent crude oil prices
fell to a three-week low in U.S. trade overnight.

The Korea Composite Stock Price Index finished down
1.24 percent at 1,969.19 points on Thursday, posting its biggest
percentage fall in two weeks.

——————–MARKET SNAPSHOT @ 22:37
GMT—————–

INSTRUMENT LAST PCT CHG NET CHG
SP 500 1,650.51 -0.29% -4.840
USD/JPY 101.96 -0.05% -0.050
10-YR US TSY YLD 2.016 — 0.000
SPOT GOLD $1,391.81 0.08% 1.110
US CRUDE $94.24 -0.01% -0.010
DOW JONES 15294.50 -0.08% -12.67
ASIA ADRS 142.42 -2.50% -3.65
—————————————————————-
WallSt sag,but end off session low;HP hit 52wk high
Prices gain after solid TIPS auction
Dollar,euro slump vs yen on stock losses,China data
Oil prices pare losses on U.S. equities turnaround

STOCKS TO WATCH

LG CORP

LG Corp shares may react after a local media report that LG
Siltron, in which LG Corp owns 51 percent, has decided to pull
out of solar energy-related business.

MERITZ FIRE INSURANCE

Meritz Fire said late on Thursday it expected to see 130
billion won in net profit for fiscal 2013.

(Reporting by Jungyoun Park; Editing by Stephen Coates)

Comments are closed.