S.Korea stocks steady as investors sidelined ahead of ECB verdict; won down

Hyundai Department Store Co

27/11/2015 03:13

* KOSPI nearly flat as appetite grows on riskier assets 
    * Won down on expectations of an additional stimulus from 
ECB 
 
    SEOUL, Nov 27 (Reuters) - South Korean shares were steady on 
Friday morning as an overnight U.S. holiday thinned trading, 
while many investors put up shutters ahead of the weekend as 
they awaited next week's  European Central Bank policy review. 
    The Korea Composite Stock Price Index (KOSPI)  .KS11  was 
marginally up 0.1 percent at 2,031.80 points as of 0235 GMT. 
Losers outnumbered gainers by 11-to-10.   
    The South Korean won  KRW=KFTC  eased 0.3 percent at 1,150.4 
per dollar, compared with previous close of 1,147.3.  
    U.S. markets were closed Thursday and will be shut most of 
Friday afternoon.         
    "We are seeing some corrections after a sharp rise yesterday 
but most investors are now settling into a wait-and-see mode 
ahead of ECB policy meeting," said Kang Hyun-gie, a stock 
analyst at Dongbu Securities.  
    The ECB meets next Thursday and most in the market expect it 
to expand its asset purchase programme and lower its deposit 
rate. 
    Refiners SK Innovation Co Ltd  096770.KS  and S-Oil Corp 
 010950.KS  gained 1.9 percent and 0.4 percent, helped by upbeat 
refinery margins despite low crude oil prices.  O/R   
    Retailer stocks  .KS45  advanced on the main board, with 
Hyundai Department Store  069960.KS  and Lotte Shopping 
 023530.KS  rising 3.6 percent and 2.4 percent, respectively. 
    Game stocks rebounded in anticipation of new games in the 
first half of next year. Shares of NC Soft Corp  036570.KS  rose 
as much as 3.3 percent to a near four-month high of 226,000 won. 
    Foreigners offloaded a net 1.2 billion Korean won ($1.04 
million) worth of KOSPI shares near mid-session, dragging on the 
index.  
    December futures on three-year treasury bonds  KTBc1  shed 
0.04 points at 109.19.  
     
                       0235 GMT    Prev close 
 Dollar/won             1,150.4       1,147.3 
 Yen/won             9.3779/842        9.3598 
 *KTB futures            109.19        109.23 
 KOSPI                 2,031.80      2,030.68 
 * Front-month futures on three-year treasury bonds 
 
 (Reporting by Yeonsoo Kwak; Editing by Shri Navaratnam) 
 ((Yeonsoo.Kwak@thomsonreuters.com; +82237045643; Reuters 
Messaging: yeonsoo.kwak.thomsonreuters.com@reuters.net)) 
 
Keywords: SOUTHKOREA MARKETS/MIDDAY