SEOUL, Oct 4: Seoul shares are likely to hold steady today amid uncertainty about a Spanish bailout and signs of a slowdown in China, although weaker oil prices may offer some support.
‘The limbo in Spain is a major source of uncertainty, while China’s recovery has been delayed longer than most expected. Meanwhile, the falling price of oil will have a favourable effect on Korean markets,’ said Kim Young-joon, an analyst at SK Securities.
While analysts wait for Spain to make moves that would trigger greater European Central Bank support, the price of Brent November crude futures fell $1 to $110.57 a barrel on dimmed outlook for global demand.
The Korea Composite Stock Price Index (KOSPI) fell 0.01 percent to close at 1,996.03 points on Tuesday, before Wednesday holiday.
—STOCKS TO WATCH—
**SAMSUNG ELECTRONICS **
Samsung is expected to release its earnings estimates for the July-September period on Friday. **HYUNDAI MOTOR, KIA MOTORS **
Both Hyundai Motor and its affiliate Kia Motors saw record sales in the United States in September, according to data released by Autodata Corp on Wednesday.
(agencies)
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