SEOUL, April 20 (Reuters) – Seoul shares may rise on Monday
after gains on Wall Street, with banks likely to be helped by
better-than-expected results from Citigroup (C.N), but caution
before a batch of key South Korean earnings could limit rises.
“The rises in U.S. stocks and U.S. results will help
sentiment. But Seoul stocks snapped a five-week gaining streak
last Friday and it seems caution is setting in,” said Kim
Hyoung-ryoul, a market analyst at NH Investment and Securities.
The Korea Composite Stock Price Index (KOSPI)
finished down 0.58 percent at 1,329.00 points on Friday,
stumbling after five straight weekly gains.
“Investors will probably want to confirm a set of key
doemstic earnings this week, but since they are not expected to
be as bad as feared, we can hope for the return of weekly gains,”
Kim added.
Memory chip makers including Hynix Semiconductor (000660.KS)
may react to news that Taiwan’s Nanya Technology (2408.TW) would
cut its capital by 66.43 percent as it grapples with losses amid
a supply glut and falling demand. [ID:nTPU001299]
Lotte Group issues including Lotte Chilsung (005300.KS) may
be in the spotlight after a report that the retail-to-beverage
conglomerate would not submit a final offer for Oriental Brewery.
[ID:nHKG328220]
———————-MARKET SNAPSHOT @ 2246 GMT ————
INSTRUMENT LAST PCT CHG NET CHG
S and P 500 .SPX 869.6 0.5% 4.300
USD/JPY JPY 99.2 0.04% 0.040
10-YR US TSY YLD US10YT 2.9544 — 0.000
SPOT GOLD XAU 867.4 -0.06% -0.500
US CRUDE CLc1 50.2 -0.26% -0.130
DOW JONES .DJI 8131.33 0.07% 5.90
ASIA ADRS .BKAS 99.56 0.42% 0.42
————————————————————-
MARKETS SUMMARY
*Dow ends best 6 wks since 1938 on economy hopes [nN17358750]
*Oil rises to over $50 on consumer confidence boost [nSIN431763]
*Dollar gains vs most majors, euro slumps on ECB [nN17275408]
*Benchmark Treasuries lose a full point in price [nNYD000473]
STOCKS TO WATCH
KUMHO TIRE (073240.KS)
The tiremaker said late on Friday it would suspend production
for three days amid falling global demand.
LG HAUSYS (108670.KS)
LG Hausys, a manufacturer of industrial materials spun off
from LG Chem (051910.KS), will be re-listed and start trading on
Monday.
(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)