Seoul shares to open lower, U.S. panel's Samsung ruling to weigh
Seoul shares are set for a weak
open on Monday, with Samsung Electronics Co Ltd
likely to come under pressure after a U.S. trade panel banned
some of the tech giant's products from the United States.
Wall Street's fall on Friday is also expected to weigh on
sentiment, analysts said.
"It's definitely not friendly news for the investors," said
Lee Jae-mahn, a market analyst at Tong Yang Securities,
referring to the ruling against Samsung. "It will be difficult
for the market to open stronger."
The U.S. International Trade Commission on Friday ruled that
Samsung infringes on portions of two Apple Inc patents
on digital mobile devices, covering the detection of headphone
jacks and operation of touch screens.
The panel moved to prohibit Samsung from importing, selling
and distributing devices in the United States that infringe on
certain claims on the patents. It is unclear how many Samsung
phones and devices would be subject to the ban.
The Korea Composite Stock Price Index (KOSPI)
finished down 0.2 percent at 1880.71 on Friday to retreat 35.51
points for the week, a 1.8 percent drop.
------------------MARKET SNAPSHOT @ 22:40 GMT-------------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1,691.42 -0.36% -6.060
USD/JPY 96.27 0.07% 0.070
10-YR US TSY YLD 2.580 -- 0.000
SPOT GOLD $1,329.66 1.19% 15.660
US CRUDE $105.94 -0.03% -0.030
DOW JONES 15425.51 -0.47% -72.81
ASIA ADRS 141.33 0.12% 0.17
----------------------------------------------------------------
>Wall St posts worst week since June with Fed in mind
>U.S. bond prices post small gains
>Dollar rises from seven-week low, Aussie dollar rallies
>U.S. oil rises 2.5 percent on China, tight supply
STOCKS TO WATCH
LOTTE HIMART CO LTD
The company said on Friday its second quarter operating
profit posted 64.7 billion won ($58.17 million), a 96.3 percent
year-on-year increase.
KANGWON LAND INC
Kangwon Land announced an 8.3 percent year-on-year decline
in operating profit to 93.0 billion won ($83.61 million) late on
Friday.
open on Monday, with Samsung Electronics Co Ltd
likely to come under pressure after a U.S. trade panel banned
some of the tech giant's products from the United States.
Wall Street's fall on Friday is also expected to weigh on
sentiment, analysts said.
"It's definitely not friendly news for the investors," said
Lee Jae-mahn, a market analyst at Tong Yang Securities,
referring to the ruling against Samsung. "It will be difficult
for the market to open stronger."
The U.S. International Trade Commission on Friday ruled that
Samsung infringes on portions of two Apple Inc patents
on digital mobile devices, covering the detection of headphone
jacks and operation of touch screens.
The panel moved to prohibit Samsung from importing, selling
and distributing devices in the United States that infringe on
certain claims on the patents. It is unclear how many Samsung
phones and devices would be subject to the ban.
The Korea Composite Stock Price Index (KOSPI)
finished down 0.2 percent at 1880.71 on Friday to retreat 35.51
points for the week, a 1.8 percent drop.
------------------MARKET SNAPSHOT @ 22:40 GMT-------------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1,691.42 -0.36% -6.060
USD/JPY 96.27 0.07% 0.070
10-YR US TSY YLD 2.580 -- 0.000
SPOT GOLD $1,329.66 1.19% 15.660
US CRUDE $105.94 -0.03% -0.030
DOW JONES 15425.51 -0.47% -72.81
ASIA ADRS 141.33 0.12% 0.17
----------------------------------------------------------------
>Wall St posts worst week since June with Fed in mind
>U.S. bond prices post small gains
>Dollar rises from seven-week low, Aussie dollar rallies
>U.S. oil rises 2.5 percent on China, tight supply
STOCKS TO WATCH
LOTTE HIMART CO LTD
The company said on Friday its second quarter operating
profit posted 64.7 billion won ($58.17 million), a 96.3 percent
year-on-year increase.
KANGWON LAND INC
Kangwon Land announced an 8.3 percent year-on-year decline
in operating profit to 93.0 billion won ($83.61 million) late on
Friday.
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