January 17, 2013 / 11:37 PM / in 5 years

Seoul shares seen rising on strong U.S. economic data

SEOUL, Jan 18 (Reuters) - Seoul shares are likely to rise on
Friday, tracing Wall Street's climb on better-than-expected U.S.
economic data, although caution over fourth-quarter earnings is
likely to cap gains. 
    "China's fourth-quarter GDP announcement expected during
trading could prove a variable in today's session," said Lim
Jong-pil, an analyst at Hyundai Securities. China's annual
economic growth may have quickened to 7.8 percent in the fourth
quarter a Reuters poll showed.
    Global equity markets rallied on Thursday, with the S&P 500
index closing at a five-year high, as surprisingly strong U.S.
housing and labor market data signaled strength in the world's
largest economy. 
   The Korea Composite Stock Price Index (KOSPI) fell
0.16 percent to close at 1,974.27 points on Thursday, holding
around a one-month low. 
--------------------MARKET SNAPSHOT @22:32 GMT---------------
                  INSTRUMENT    LAST    PCT CHG    NET CHG    
S&P 500               1,480.94     0.56%      8.310    
USD/JPY                  89.90     0.02%      0.020    
10-YR US TSY YLD    1.884      --        0.065    
SPOT GOLD            $1,687.00    -0.02%     -0.260    
US CRUDE                $95.49     1.33%      1.250    
DOW JONES             13596.02     0.63%      84.79    
ASIA ADRS              134.90     0.92%       1.22    
using, job-market data push S&P to 5-year high   
>U.S. bonds slump as upbeat housing data spur sales 
>Yen tumbles on forceful BoJ action forecast        
>Oil rises on improving U.S. jobs, housing data     

    Lotte Chemical Corp said late Thursday it will sell 40,000
shares in a block sale Friday to raise 10.2 billion won ($9.6
million) to be used to invest in new projects and operating

    Tongyang Networks Corp said late Thursday it has
acquired a 43.5 percent stake in unlisted affiliate Tongyang
Online Co Ltd for 6.5 billion won. With this, Tongayng Networks
will own 85.2 percent of IT contents developer Tongyang Online. 
    Tongyang Group, of which both Tongyang Networks and Tongyang
Online are affiliates, said Thursday it had chosen Goldman Sachs
 and Tong Yang Securities as advisors to sell Tongyang
Inc's household appliance business. 
($1 = 1058.1500 Korean won)

 (Reporting by Joyce Lee; Editing by Richard Pullin)

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