Seoul shares seen rising on optimistic U.S. data

Tue Mar 26, 2013 11:45pm GMT

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SEOUL, March 27 (Reuters) - Seoul shares are likely to rise
on Wednesday, tracing Wall Street's gains as strong U.S. home
price data and manufacturing orders boosted the economic
outlook. 
    "The local index is expected to extend gains from the last
two sessions as positive U.S. data fuels optimism," said Lee
Seon-yeop, an analyst at Shinhan Investment Corp. 
    Global stocks rallied on Tuesday, with the Dow hitting
another record close. Orders for U.S.-made durable goods surged
last month and U.S. home prices posted their biggest
year-on-year gain in six-and-a-half years in January,
 
    The Korea Composite Stock Price Index (KOSPI) gained
0.3 percent to close at 1,983.7 points on Tuesday, rebounding a
total of 1.8 percent from a 5-week closing low on Friday.  
    
--------------------MARKET SNAPSHOT @22:29 GMT---------------
                    INSTRUMENT    LAST    PCT CHG    NET CHG    
S&P 500               1,563.77     0.78%     12.080    
USD/JPY                  94.50     0.08%      0.080    
10-YR US TSY YLD    1.911      --        0.000    
SPOT GOLD            $1,598.93     0.02%      0.340    
US CRUDE                $96.16    -0.19%     -0.180    
DOW JONES             14559.65     0.77%     111.90    
ASIA ADRS              135.89     0.22%       0.30    
------------------------------------------------------------->Da
ta lifts Dow to a record, S&P near record close  
>Prices gain as Cyprus fears remain                 
>Euro low vs dollar as Cyprus concerns linger       
>Oil up on US data, Brent premium to US crude shrink 

---STOCKS TO WATCH---  
      
    **LS CORP **
    LS Corp said in a regulatory filing late on Wednesday its
unlisted subsidiary LS Cable & System Ltd decided to guarantee
some 61.4 billion Korean won ($55.53 million)in debt incurred by
affiliate Superior Essex. 
     
    **HANWHA LIFE INSURANCE ** 
    Hanwha Life Insurance Co has signed a memorandum of
understanding with AXA and Gingko Tree Investment to
invest a combined 900 billion Korean won to acquire London's
landmark Ropemaker Place, South Korean wire service Money Today
reported Wednesday. 
    Gingko Tree Investment is a U.K. registered, wholly-owned
unit of China's State Administration of Foreign Exchange. 
    A spokesman for Hanwha Life was immediately unavailable for
comment.   
    
($1 = 1105.7000 Korean won)

 (Reporting by Joyce Lee; Editing by Eric Meijer)
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