SEOUL, Feb 9 (Reuters) - Seoul shares may trade in a tight
range on Tuesday after losses on Wall Street amid deepening
worries about Eurozone debt, with Kumho Industrial
followed as shares resume trading after a suspension.
'Technically a rebound is expected as the main index is now
treading below its 200-day moving average, but U.S. stocks'
pretty big falls point to weak trading here as well,' said Kim
Young-june, a market analyst at SK Securities.
Eyes will be on financials and Kumho Asiana Group related
issues including Kumho Industrial after creditor banks of South
Korea's 9th-largest conglomerate said they would keep the
cash-starved group under their protection, quelling speculation
that a flagship unit could be put into court
receivership.
The Korea Exchange said late on Monday it was lifting a trade
suspension on shares of Kumho Industrial from Tuesday as
creditors of Kumho's parent group clarified the group's
restructuring.
The Korea Composite Stock Price Index (KOSPI)
finished down 0.91 percent to 1,552.79 points on Monday, the
lowest close since November 27, 2009.
----------------------MARKET SNAPSHOT @ 2252 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1056.74 -0.89% -9.450
USD/JPY 89.24 -0.06% -0.050
10-YR US TSY YLD 3.5616 -- -0.010
SPOT GOLD 1061.9 -0.08% -0.900
US CRUDE 71.68 -0.29% 0.000
DOW JONES 9908.39 -1.04% -103.84
ASIA ADRS 119.15 -1.15% -1.39
-------------------------------------------------------------
MARKET SUMMARY
*Euro zone debt worries sink Dow below 10,000
*Dollar slips, but strong trend remains intact
*Treasuries fall slightly ahead of auctions
*Oil up 1 pct on geopolitics, dollar and cold
STOCKS TO WATCH
DAEWOO SHIPBUILDING
Daewoo Shipbuilding said late on Monday its fiscal net profit
for 2009 rose 43.8 percent to 577 billion won ($492.6 million).
HYUNDAI HEAVY INDUSTRIES
Hyundai Heavy has won a $1.16 billion deal to build a
production vessel for the Goliat field in the Barents
Sea.
(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)
((If you have a query or comment on this story, send an email 1to news.feedback.asia@thomsonreuters.com) ($1=1171.3 Won) Keywords: MARKETS KOREA STOCKS/
(jungyoun.park@reuters.com; +82 2 3704 5643; Reuters Messaging; jungyoun.park.reuters.com@reuters.net)
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