Bloomberg News

SOUTH KOREA DAYBOOK: S.Korea, Japan, U.S. Envoys Discuss N.Korea

May 20, 2012

South Korea, U.S. and Japan chief nuclear envoys meet at about 10 a.m. in Seoul to discuss North Korea.

WHAT TO WATCH * Kospi 200 futures fell 0.1 percent to 236.25 * South Korea sells 1.45 trillion won of 10-year bonds at about 11:30 a.m. * Japan’s top nuclear negotiator gives press conference on outcome of trilateral discussions at about 2:50 p.m.

MARKETS * Dow Average 0.6% to 12,369.38 * Euro was little changed at $1.2782 * U.S. 10-year yield gained 3bps to 1.723% * Crude oil slipped 1.2% to $91.80/bbl * Spot gold climbed 1.2% to $1,592.99/oz

EQUITY MOVERS * Hyundai Motor Co. (005380) (005380 KS) may not be able to produce 7,800 vehicles in three plants in South Korea, Yonhap reports. * STX Corp. (011810) (011810 KS) will sell 50.75 percent stake in STX OSV Holdings Ltd. (SOH) to a group formed by Italy’s Fincantieri and Carlyle, Maeil reports. * KB Financial Group (105560) (105560 KS) and Korea Life Insurance Co. (083350) Ltd. (088350 KS) make preliminary bids for ING Groep NV’s (INGA NA) Asia business, Edaily reports. * Hana Financial Group (086790) (086790 KS) preparing for Bank of Jilin to be listed on Shanghai Stock Exchange mid next year, Korea Economic Daily reports.

To contact the reporters on this story: Sangwon Yoon in Seoul at syoon32@bloomberg.net; Sungwoo Park in Seoul at spark47@bloomberg.net

To contact the editor responsible for this story: Brett Miller at bmiller30@bloomberg.net


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