August 18th, 2008 | by admin |
SEOUL, Aug 18 (Reuters) - Seoul shares are set to rise onMonday after oil prices fell and U.S. shares gained on Friday,likely lifting energy price-sensitive airlines and exporters.
Korean Air Line (003490.KS: Quote, Profile, Research, Stock Buzz) and Asiana Airlines (020560.KS: Quote, Profile, Research, Stock Buzz)may advance after U.S. crude CLc1 fell to around $113 perbarrel on Friday, easing concerns about their operational costburdens.
Exporters such as Samsung Electronics (005930.KS: Quote, Profile, Research, Stock Buzz) and HyundaiMotor (005380.KS: Quote, Profile, Research, Stock Buzz) may also rise as lower oil prices and data onFriday pointed to improving consumer sentiment in the key U.S.market. [ID:nN15303552]
"U.S. shares' gain and easier oil are likely to prompt someforeign buying," said Joo Sang-chull, an analyst at KyoboSecurities.
"Sentiment is seen stabilising after recent jitters."
The Korea Composite Stock Price Index closed up 0.61percent at 1,572.19 points on Thursday. The Seoul stock marketwas closed on Friday for a public holiday. ----------------------MARKET SNAPSHOT @ 2239 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 .SPX 1285.83 -0.29% -3.760 USD/JPY <JPY=> 109.28 -0.15% -0.160 10-YR US TSY YLD <US10YT=RR> 3.939 -- 0.000 SPOT GOLD <XAU=> 826.25 0.08% 0.650 US CRUDE CLc1 116.5 0.43% 0.500 DOW JONES .DJI 11532.96 -0.94% -109.51 ASIA ADRS .BKAS 138.17 -0.63% -0.88 -------------------------------------------------------------
MARKETS SUMMARY*Credit jitters, surging oil hurt Wall Street [ID:nN13259632]*Oil snaps losing streak, ignites broad rally [ID:nN13259677]*Dollar rises vs FX basket for 9th straight day [ID:nN13592829]*Treasuries fall as inflation doubts reappear [ID:nN13498412]
STOCKS TO WATCH
LG ELECTRONICS (066570.KS: Quote, Profile, Research, Stock Buzz)
The world's No.4 handset maker said on Thursday that the flatscreen television market was poised for much slower growth in2009 but maintained high growth targets for its own plasma andliquid crystal products.[ID:nSEL000214]
HYNIX SEMICONDUCTOR (000660.KS: Quote, Profile, Research, Stock Buzz)
The world's No.2 memory chip maker said on Friday it hadagreed to buy an 8.6 percent stake in Taiwan rival ProMOSTechnologies (5387.TWO: Quote, Profile, Research, Stock Buzz), smaller than the 9.5 percent announcedin June.[ID:nTP188210]
DONGWON F&B CO LTD (049770.KS: Quote, Profile, Research, Stock Buzz)
U.S. antitrust authorities have approved Del Monte Foods Co's(DLM.N: Quote, Profile, Research, Stock Buzz) $363 million sale of its tuna brand StarKist to SouthKorean food group Dongwon, the Federal Trade Commission said onThursday.[ID:nN14465270]
(Reporting by Park Jung-youn; Editing by Jonathan Hopfner)