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Seoul shares seen boxed in range, pausing after Fed-inspired rally
September 17, 2012 / 11:43 PM / 5 years ago

Seoul shares seen boxed in range, pausing after Fed-inspired rally

SEOUL, Sept 18 (Reuters) - Seoul shares are likely to remain
rangebound on Tuesday as investors catch their breath after a
rally late last week on the U.S. Federal Reserve's easing plan
and as they await U.S. housing data which could spur further
    "Positive investor sentiment inspired by the Fed move hasn't
faded yet, so the index is expected to hold around the 2,000
point threshold," said Kim Seung-han, an analyst at HI
Investment & Securities. 
    "Not much is expected to change until Wednesday's U.S.
housing data affects investor appetite one way or another."  
    The Korea Development Institute (KDI), an influential
government think-tank, slashed its 2012 and 2013 economic growth
forecasts for South Korea on Monday. It now sees growth of just
2.5 percent this year, compared with a 3.6 percent growth
forecast in May. 
    The Korea Composite Stock Price Index (KOSPI) closed
down 0.3 percent at 2,002.35 points on Monday, pulling back
after rising during intraday trade to a fresh five-month high. 
--------------MARKET SNAPSHOT @ 22:09 GMT -------------------
                INSTRUMENT      LAST    PCT CHG     NET CHG
S&P 500                1,461.19     -0.31%     -4.580
USD/JPY                   78.71      0.04%      0.030
10-YR US TSY YLD     1.843       --        0.000
SPOT GOLD             $1,763.09      0.12%      2.140
US CRUDE                 $96.62      0.00%      0.000
DOW JONES              13553.10     -0.30%     -40.27
ASIA ADRS               123.03     -1.28%      -1.59
>Wall St closes lower after rally as oil prices drop 
>Prices rebound from Friday's sharp sell-off        
>Dollar hovers near multimonth lows                 
>Oil plunges in rapid afternoon selloff             

Kia Motors Corp unveiled a new K3 compact sedan on
Monday, adding to the company's K series product line-up after
investing 300 billion won ($269 million) into the K3's
development. Kia's vice chairman also said South Korea's
second-largest automaker expects to meet 2012 sales target
despite recent factory walkouts. 
  ($1 = 1115.9500 Korean won)

 (Reporting by Joyce Lee; Editing by Edmund Klamann)

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