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Seoul shares seen extending gains on optimism from China data
January 10, 2013 / 11:38 PM / 5 years ago

Seoul shares seen extending gains on optimism from China data

SEOUL, Jan 11 (Reuters) - Seoul shares are likely to edge up
on Friday, extending gains from the previous session after
Thursday's strong China export data, while the European Central
Bank's decision to hold interest rates lessened anxiety about
the euro zone economy.
    The Bank of Korea's base rate decision is also expected to
have limited impact on the main board as the central bank is
seen holding interest rates steady on Friday for a third
straight month. 
    World stock prices rose to an eight-month high on Thursday
as unexpectedly strong data on Chinese exports raised hopes of a
faster recovery for the global economy. 
    "The trade data from China showed a balanced growth in both
imports and exports, raising investor confidence and lifting
risk assets," said Park Sung-hoon, an analyst at Woori
Investment & Securities.    
    The Korea Composite Stock Price Index (KOSPI) closed
up 0.75 percent at 2,006.8 points on Thursday. 
-------------------MARKET SNAPSHOT @22:28 GMT---------------
                 INSTRUMENT    LAST   PCT CHG    NET CHG    
S&P 500               1,472.12     0.76%     11.100    
USD/JPY                  88.88     0.11%      0.100    
10-YR US TSY YLD    1.899      --        0.039    
SPOT GOLD            $1,673.85    -0.05%     -0.790    
US CRUDE                $93.82     0.77%      0.720    
DOW JONES             13471.22     0.60%      80.71    
ASIA ADRS              135.22     1.31%       1.75    
ll St climbs as China data put S&P at 5-yr high  
>Prices fall on ECB talk, debt sale tempers losses  
>Euro soars on ECB, China data; yen slumps          
>Oil rises after Saudi Arabia cuts output           

    Halla Climate Control Corp said late Thursday it approved
the agreement to consolidate the climate control operations of
parent company Visteon Corp into Halla. 
    Visteon also said on Thursday the transaction is on track
for completion in first quarter of 2013.

 (Reporting by Joyce Lee; Editing by Paul Tait)

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