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Seoul shares seen coasting at 4-month lows as North Korea blusters
April 7, 2013 / 11:37 PM / 5 years ago

Seoul shares seen coasting at 4-month lows as North Korea blusters

SEOUL, April 8 (Reuters) - Seoul shares are likely to hover
near four-month lows on Monday as foreign selling continues amid
increasingly strident rhetoric by North Korea.
    "Despite being at multi-month lows, the index is likely to
trade within a tight range as foreign selling will continue on
the uncertainty from North Korea," said Lee Eun-taek, an analyst
at Dongbu Securities.
    South Korea and the United States believe that North Korea
could conduct a missile launch by Wednesday, after which the
North said it could not guarantee the safety of resident
    The Korea Composite Stock Price Index (KOSPI) ended down
1.64 percent at 1,927.23 points on Friday, its lowest closing
level since Nov. 28, as foreigners sold the most in 20 months. 
    The KOSPI fell 3.9 percent for the week, its worst
performance in more than 10 months.
------------------MARKET SNAPSHOT @ 22:28 GMT-------------------
S&P 500                 1,553.28       -0.43%     -6.700
USD/JPY                    98.47        0.64%      0.630
10-YR US TSY YLD      1.715         --        0.000
SPOT GOLD              $1,582.15        0.04%      0.650
US CRUDE                  $92.82        0.13%      0.120 
DOW JONES               14565.25       -0.28%     -40.86
ASIA ADRS                135.54       -0.26%      -0.35
>S&P posts 2013's worst weekly drop on jobs data    
>Yields sink as jobs data hint at drag on growth    
>Dollar stumbles after weak US jobs data, yen falls 
>Brent crude settle lower, drop 5.4 pct week-on-week 
    Samsung infringed a key portion of an Apple Inc 
patent by including a text-selection feature in its smartphones
and tablets, an International Trade Commission judge said in a
preliminary decision. A final judgment is expected in August.
    Shares in the smartphone maker were little changed on Friday
despite a new operating profit guidance of $7.7 billion for the
January-March period, better than analysts' forecasts. 

    **SAMSUNG C&T **
    The South Korean builder said on Monday it had won two
orders, in Singapore and Morocco, totalling 1 trillion Korean
won ($883.68 million).
    Samsung C&T won a $542 million order by Singapore's
GuocoLand for a development project in the Tanjong Pagar
district. It will also build a phosphate rock-treatment plant in
Morocco for $350 million.
($1 = 1131.6250 Korean won)

 (Reporting by Somang Yang; Editing by Paul Tait)

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