March 1, 2012 / 11:47 PM / 6 years ago

Seoul shares set to rise, gains seen capped on mixed signals

 SEOUL, March 2 (Reuters) - Seoul shares are seen up on
Friday, tracking gains in global peers as the European Central
Bank's second round of massive liquidity injections sparked a
broad equities rally, but rises are seen capped on mixed U.S.
economic data.	
 U.S. stocks returned to 2008 highs on Thursday after a jump
in bank shares and further upbeat data on the labor market,
though sharp gains in oil prices limited the advance.	
 A surprise drop in output may cut into optimism, as U.S.
manufacturing cooled in February and consumer spending was flat
for a third straight month in January, suggesting the economy
lost more steam early this year than expected. 	
 The Korea Composite Stock Price Index (KOSPI) closed
up 1.33 percent at 2,030.25 points on Wednesday. Markets were
closed on Thursday for a public holiday. 	
-----------------MARKET SNAPSHOT @ 22:26 GMT -----------------	
              INSTRUMENT      LAST     PCT CHG    NET CH    	
S&P 500                 1,374.09    0.62%      8.410    	
USD/JPY                 81.07       -0.04%     -0.030	
10-YR US TSY YLD   2.030         --       0.056    	
SPOT GOLD               $1,717.49   0.01%      0.130    	
US CRUDE                $108.55     1.38%      1.530    	
DOW JONES               12980.30    0.22%      28.23    	
ASIA ADRS              131.38      0.59%      0.77    	
>Wall St returns to 2008 highs on banks             	
>U.S. bonds down as QE3 timing reassessed        	
>Euro suffers post-ECB blues; downside seen      	
>Oil highest since 2008 on Saudi pipeline report 	
U.S. auto sales rose nearly 16 percent in February and the
annual sales rate leapt to its best level in four years, with
Kia Motors seeing a 37 percent rise while Hyundai
Motor reported record sales. 	
Shinsegae Co said it had put discussions over a
possible bid for electronics retailer Hi-mart on
hold after the bid schedule was delayed following an
embezzlement probe targeting Hi-mart's senior executives.	
 (Reporting by Joonhee Yu; Editing by Jonathan Hopfner)	

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