S.Korean shares seen higher on central banks' move

SEOUL, March 12 (Reuters) - Seoul shares are set to gain on Wednesday after the U.S. Federal Reserve and four other central banks stepped in to ease credit market strains with a fund injection of up to $200 billion.

Financial stocks are likely to lead the gains in tow of their U.S. peers, which led a Wall Street rally, boosting the three main indexes by more than 3 percent. [ID:N11627440]

However shares that rely heavily on oil such Korean Air (003490.KS: Quote, Profile, Research) could remain under pressure after oil surged to a record near $110 a barrel on Tuesday.

U.S. oil has touched record highs for five straight sessions as investors seek a hedge against the weak U.S. dollar and inflation. [ID:SP236860]

The Korea Composite Stock Price Index ended up 1 percent at 1,641.48 points on Tuesday. --------------------- MARKET SNAPSHOT AT 2233 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 .SPX 1320.65 3.71 47.280 USD/JPY <JPY=> 103.49 0.04 0.040 10-YR US TSY YLD <US10YT=RR> 3.5997 -- 0.000 SPOT GOLD <XAU=> 972.8 -0.02 -0.200 US CRUDE CLc1 108.4 -0.32 -0.350 DOW JONES .DJI 12156.81 3.55 416.66 -------------------------------------------------------------

MARKETS SUMMARY *Wall St soars over 3 percent as Fed adds liquidity [ID:nN11627440] *Oil peaks near $110 before easing on cenbank moves [ID:nSP236860] *Dollar surges vs yen, Swiss franc on credit moves [ID:nN11575636] *Treasuries fall as Fed unveils new credit bailout [ID:nN11602036]

STOCKS TO WATCH

-INTERPARK

South Korean Web-based mall operator Interpark (035080.KQ: Quote, Profile, Research) said on Tuesday it had abandoned a plan to sell its 29 percent stake in online retailer Gmarket (GMKT.O: Quote, Profile, Research), citing deteriorating financial market conditions.[ID:SEO244432] (Reporting by Park Jung-youn; Editing by Tomasz Janowski)