Reuters: Financial Services and Real Estate: Seoul shares seen following Wall St's lead higher

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Seoul shares seen following Wall St's lead higher Apr 29th 2012, 23:44 Tweet Share this Email Print Sun Apr 29, 2012 7:44pm EDT SEOUL, April 30 (Reuters) - Seoul shares are seen higher on Monday, tracking gains in global stocks on strong corporate earning reports and renewed talk the U.S. Federal Reserve could ease policy further after data showed slowing economic growth. "After consolidation to recent lows, the market looks ripe for a rebound, but a strong rebound won't be likely and shares haven't found their exact floor with French elections ahead and also the possibility of an impending nuclear test by North Korea," said Lee Young-gon, an analyst at Hana-Daetoo Securities. U.S. stocks advanced for a fourth straight day on Friday, helped by stronger-than-expected profits at Amazon.com Inc and Expedia Inc, which saw their share prices jump around 16 percent and 24 percent, respectively. The U.S. economy, the world's largest, expanded at a 2.2 percent annual rate in the first three months of the year, below economists' expectations of a 2.5 percent pace. Last week, the Korea Composite Stock Price Index (KOSPI) fell to its lowest in 12 weeks. On Friday, it rose 0.58 percent to end at 1,975.35 points, which was just enough to finish stronger on the week after two weeks of losses. ------------------MARKET SNAPSHOT @ 22: 43 GMT------------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,403.36 0.24% 3.380 USD/JPY 80.34 0.09% 0.070 10-YR US TSY YLD 1.937 -- 0.000 SPOT GOLD $1,663.15 0.05% 0.830 US CRUDE $104.81 -0.11% -0.120 DOW JONES 13228.31 0.18% 23.69 ASIA ADRS 127.55 0.43% 0.55 ---------------------------------------------------------------- >S&P 500 rallies for week on Amazon, Expedia results >Bonds rise as slower U.S. growth supports demand >Dollar ends week on a down note post US GDP data >Oil little changed in thin, tug-of-war trade ---STOCKS TO WATCH--- **POSCO ** Steelmaker POSCO said it will sell part of its stake in Roy Hill Holdings to China Steel Corporation for 359.9 billion Korean won ($315 million). **WOORI FINANCE HOLDINGS ** South Korea's top regulator said it would receive preliminary bids for a 6 trillion won ($5.3 billion) controlling stake in Woori Finance Holdings by July 27, after two previous attempts to privatise the group floundered over a lack of bidding interest. (Reporting by Joonhee Yu; Editing by John Mair) Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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