Seoul shares seen rangebound before EU outcome

SEOUL, June 29 (Reuters) - Seoul shares will likely be
trapped in a narrow range on Friday as investors keep to the
sidelines while they await the outcome of the European Union's
debt crisis summit.

"Investors are waiting for further developments overnight in
Europe and the reaction in Wall Street before making their bets,
which will take place after the market closes out the week here,
so trading looks to be quiet as the market braces for what might
be a busy Monday," said Cho Byung-hyun, an analyst at Tong Yang
Securities.

Italy and Spain held up agreement on measures to promote
growth at a European Union summit on Thursday to demand urgent
action to bring down their borrowing costs, although EU leaders
remain deep divided over the crisis response.

South Korea cut this year's economic growth target on
Thursday and unveiled plans to boost public spending by more
than $7 billion to shore up Asia's fourth-largest economy in the
face of the euro zone crisis.

The Korea Composite Stock Price Index (KOSPI) ticked
0.08 percent higher to close at 1,819.18 points on Thursday.

----------------MARKET SNAPSHOT @ 22:26 GMT---------------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1,329.04 -0.21% -2.810
USD/JPY 79.37 -0.05% -0.040
10-YR US TSY YLD 1.584 -- 0.000
SPOT GOLD $1,551.15 0.03% 0.400
US CRUDE $78.46 0.99% 0.770
DOW JONES 12602.26 -0.20% -24.75
ASIA ADRS 115.11 0.25% 0.29
----------------------------------------------------------------
Wall St pares losses late, ends modestly lower
>US bonds rise with safety bid during EU summit
>Euro falls to more than 3-wk low as EU leaders meet
>Oil heads for worst quarter since 2008 crisis

---STOCKS TO WATCH---

**HYUNDAI MOTOR CO **

The labour union of South Korean carmaker Hyundai Motor
said on Thursday that it had walked out of wage
talks with management and would take steps to go on
strike.

(Reporting by Joonhee Yu; Editing by Eric Meijer)