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 States. 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 ---STOCKS TO WATCH--- **DONGWON INDUSTRIES ** 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 position. ($1 = 1086.1500 Korean won) (Reporting by Joyce Lee; Editing by Chris Gallagher)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.