Fed rate cut may help Seoul stocks; worry lingers

SEOUL, Jan 23 (Reuters) - Seoul stocks may attempt to recover
on Wednesday from two days of battering, helped by an emergency
interest-rate cut by the U.S. Federal Reserve, but persistent
worries over a recession should keep investors on edge.

The Korea Composite Stock Price Index (KOSPI) fell 4.43
percent on Tuesday, its biggest daily percentage fall since Aug.
16, 2007, to close at 1,609.02, the lowest finish since May 16,
2007.

A vicious rout of global stock markets at the start of the
week prompted the Federal Reserve to slash benchmark U.S.
interest rates by three-quarters of a percentage point on
Tuesday. [ID:nN22528989]

While Wall Street still fell despite the biggest reduction in
the Fed's target lending rate in 23 years, Wall Street's decline
was shallower than feared and analysts hoped that it would help
stem a global sell-off in stocks.
----------------------MARKET SNAPSHOT @ 2257 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1310.5 -1.11% -14.690
USD/JPY JPY= 106.61 0.17% 0.180
10-YR US TSY YLD US10YT=RR 3.4187 -- 0.000
SPOT GOLD XAU= 890.3 0.00% 0.000
US CRUDE CLc1 89.85 0.00% -0.720
DOW JONES .DJI 11971.19 -1.06% -128.11
-------------------------------------------------------------

MARKETS SUMMARY

*Panicky markets spur U.S. tax, interest-rate stimulus
[ID:nN22528989]

*U.S. stock market falls on recession fears but Fed cut helps
[ID:nN22549230]

*Oil ends at one-month low on economic worries [ID:nL22359265]

*Surprise Fed rate cut shakes dollar [ID:nN22529153]

*T-bonds rally as Fed rate move curbs stock plunge
[ID:nN22518156]

STOCKS TO WATCH

- Samsung Electronics

A U.S. trade panel that often hears patent disputes said on
Tuesday it agreed to Samsung Electronics Co's (005930.KS) request
to investigate Sharp Corp (6753.T) for allegedly infringing
liquid crystal display patents.
(Reporting by Kim Soyoung; Editing by Sei Chong)