June 18, 2013 / 11:53 PM / 5 years ago

Seoul shares may rise; Samsung Elec, builders seen climbing

SEOUL, June 19 (Reuters) - Seoul shares may open higher on
Wednesday after Wall Street shares extended gains for a second
straight session on the view that the U.S. Federal Reserve will
try to assuage market fears about an expected winding down of
monetary stimulus.
    "An improving earnings outlook for the second quarter and a
slowing down in capital outflow from emerging markets will help
Seoul shares today," added Chang Hee-jong, a market analyst at
KDB Daewoo Securities.
    Samsung Electronics Co Ltd, which has been
battered as analysts readjust their expectations for its
smartphone growth, will likely continue to make up some ground
lost as valuations have fallen to attractive levels, Chang said.
    Samsung ended up 1.5 percent on Tuesday but its share are
still down 10 percent for the month of June.
    Samsung Electronics shares were trading at a 12-month
forward price earnings multiple of 6.3, compared with rival
Apple's 10.2, Thomson Reuters StarMine data showed.
    The Fed's two-day policy meeting started Tuesday and a
statement from the central bank will be released later in the
    The Korea Composite Stock Price Index (KOSPI)
finished up 0.93 percent at 1,900.62 points on Tuesday.
--------------------MARKET SNAPSHOT @22:31 GMT--------------
                 INSTRUMENT    LAST    PCT CHG   NET CHG    
S&P 500               1,651.81     0.78%    12.770    
USD/JPY                  95.44     0.13%     0.120    
10-YR US TSY YLD    2.185      --       0.000    
SPOT GOLD            $1,367.65    -0.01%    -0.140    
US CRUDE                $98.58     0.14%     0.140    
DOW JONES             15318.23     0.91%    138.38    
ASIA ADRS              136.56     0.59%      0.79    
ll St extends rise, investors await Fed       
>U.S. bond prices steady before Fed policy meet  
>Dlr gains on yen ahead of Fed;euro gains on data 
>Oil gains moderately, trade sluggish            
    South Korean builders including Hyundai Engineering &
Construction Co Ltd may be buoyed after a South
Korean consortium led by Korea Water Resources Corp 
won two contracts worth a total of 163 billion baht($5.29
billion) for Thai flood management project. 
    Korean Airlines has signed a provisional deal to
buy five 747-8 and six 777-300ER passenger aircraft, planemaker
Boeing said at the Paris Airshow on Tuesday.
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