Seoul shares seen rising on eased inflation fears

SEOUL, March 21 (Reuters) - Seoul shares are set to gain on
Friday, with transportation and manufacturing shares expected to
lead gains as sharp drops in commodities prices ease fears about
inflation and about consumer sentiment.

Air carriers such as Korean Air Line (003490.KS: Quote, Profile, Research) and Asiana
Air 020560.KQ will likely gain on a sharp decline in oil prices
on Thursday, which ended down 70 cents at $101.84 per barrel
after once tumbling below $100 [ID:nSP284704].

Manufacturers such as Hyundai Motor (005380.KS: Quote, Profile, Research) and LG
Electronics (066570.KS: Quote, Profile, Research) may also gain on hopes easier commodities
and energy prices will help boost consumer demand for goods.

South Korea's central bank revised slightly up the
fourth-quarter economic growth data before markets opened.

The Bank of Korea said Asia's fourth-largest economy grew a
seasonally adjusted 1.6 percent in the fourth quarter of 2007,
above the 1.5 percent rise estimated previously. [ID:SEV000352]
--------------------- MARKET SNAPSHOT @ 2235 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1329.51 2.39% 31.090
USD/JPY <JPY=> 99.21 -0.09% -0.090
10-YR US TSY YLD <US10YT=RR> 3.341 -- 0.000
SPOT GOLD <XAU=> 909.6 0.00% 0.000
US CRUDE CLc1 101.45 -1.06% -1.100
DOW JONES .DJI 12361.32 2.16% 261.66
-------------------------------------------------------------

MARKETS SUMMARY
* Stocks rally amid sell-off in commodities [ID:nN20421236]
* Oil extends slide on economic worries [ID:nSP284704]
* Dollar jumps vs euro as oil, gold prices drop [ID:nN20224369]
* US Treasury-no politics in wealth fund [ID:nN20400473]

STOCKS TO WATCH:

KOOKMIN BANK (060000.KS: Quote, Profile, Research)

Kookmin said on Thursday it had applied to set up a holding
company that would include South Korea's biggest lender and its
affiliates, and also planned to spin off its credit card
business.

A shift into the holding company structure will help Kookmin
expand into non-banking financial services and overseas markets.
[ID:SEO280714]
(Reporting by Park Jung-youn; Editing by Yoo Choonsik)