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Seoul shares likely to retreat on lacklustre U.S., European data
February 21, 2013 / 11:37 PM / 5 years ago

Seoul shares likely to retreat on lacklustre U.S., European data

SEOUL, Feb 22 (Reuters) - Seoul shares are likely to fall on
Friday after U.S. and European data pointed to weak economic
growth, dampening risk appetite.
    "The main board is likely to extend the previous session's
retreat due to concerns over lacklustre U.S. data and continued
worries about the durability of the Federal Reserve's stimulus
programme," said Kim Soon-young, an analyst at IBK Securities.
    Major stock markets fell for a second day and the euro slid
to a six-week low against the U.S. dollar on Thursday after data
showed weak economic growth in both Europe and the United
    The Korea Composite Stock Price Index (KOSPI) 
finished down 0.5 percent at 2,015.22 points on Thursday,
snapping a six-day gain. 
-------------------MARKET SNAPSHOT @22:34 GMT----------------
                  INSTRUMENT      LAST    PCT CHG   NET CHG    
S&P 500                1,502.42     -0.63%    -9.530    
USD/JPY                   93.07     -0.03%    -0.030    
10-YR US TSY YLD     1.974       --      -0.036    
SPOT GOLD             $1,575.90      0.02%     0.240    
US CRUDE                 $92.84     -2.50%    -2.380    
DOW JONES              13880.62     -0.34%    -46.92    
ASIA ADRS               134.47     -1.57%     -2.14    
>Wall St ends lower on growth worries               
>US bond prices rise on data, Fed bond purchase view 
>Euro falls on economic worries;dollar gains broadly 
>Oil extends sell-off,Brent hits 3-wk low below $114 

    Dongwon Industries Co Ltd said in a regulatory filing late
on Thursday that Dongwon Group has not ruled out the acquisition
of a Peruvian fish processor, after a local media report said
Dongwon had submitted an initial bid for Pesquera Diamante. 
    Dongwon is one of multiple bidders expressing interest in
the 100 percent stake in Pesquera Diamante estimated to be worth
between $600-800 million, local newspaper Korea Economic Daily
reported on Thursday, citing unnamed sources in the investment
banking industry.
    Dongwon Industries, a company of Dongwon Group, engages in
deep-sea fishing for processing and distributing tuna and other
fish-based products.
    A Dongwon Group spokesman declined to comment.

    **STX PAN OCEAN **
    Shipper STX Pan Ocean Co Ltd reported late on Thursday a
2012 operating loss of 196.4 billion won ($181 million), deeper
than its 2011 operating loss of 104.7 billion won.
    STX Pan Ocean shares have experienced heightened volatility
since top shareholder STX Corp put the shipper up
for sale to improve STX Group's financial
($1 = 1086.1500 Korean won)

 (Reporting by Joyce Lee; Editing by Chris Gallagher)

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