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Asia Top News and Analysis Korea

  • South Korea's Kospi rose nearly 0.3 percent to 2,001.41 and Australia's S&P/ASX 200 gained 0.6 percent to 4,413.80. Benchmarks in Singapore, Taiwan and Malaysia also rose. The better news on manufacturing helped investors set aside concerns of a possible downgrade by credit rating agency Moody's of Spain's debt rating to junk status.

  • South Korea's Kospi rose nearly 0.3 percent to 2,001.41 and Australia's S&P/ASX 200 gained 0.6 percent to 4,413.80. Benchmarks in Singapore, Taiwan and Malaysia also rose. The better news on manufacturing helped investors set aside concerns of a possible downgrade by credit rating agency Moody's of Spain's debt rating to junk status.

  • *Case builds for Bank of Korea rate cut at Oct. 11 meeting. An HSBC/ Markit survey showed the purchasing managers' index of South Korea's manufacturing sector fell to a seasonally adjusted 45.71 in September from 47.50 in August, touching its lowest since February 2009.

  • MELBOURNE, Oct 2- Australian shares advanced 0.5 percent on Tuesday, with investors on tenterhooks ahead of a central bank rate decision and resources stocks helped by stronger-than-expected U.S. manufacturing data.

  • Seoul, Oct 2- South Korea's main KOSPI share index was up 0.28 percent at 2,001.77 points as of 0028 GMT. Stocks on the move on Tuesday include:** DAEWOO SHIPBUILDING DOWN 3 PCT** Shares in Daewoo Shipbuilding& Marine Engineering. Daewoo Shipbuilding shares were traded down 2.5 percent at 25,300 won, underperforming the wider market's 0.25 percent gain as of 0027 GMT.

  • MELBOURNE, Oct 2- Australian shares opened 0.3 percent higher on Tuesday, with investors on tenterhooks ahead of a central bank rate decision and resources stocks helped by stronger-than-expected U.S. manufacturing data.

  • SEOUL, Oct 2- Seoul shares traded flat after opening up slightly higher on Tuesday, weighed down by Hyundai Motor despite a surprise expansion in U.S. manufacturing.

  • SEOUL, Oct 2- South Korea's manufacturing sector shrank in September for the fourth consecutive month and the most rapidly since early 2009, a survey showed on Tuesday, suggesting the export-reliant economy probably slowed further in the third quarter.

  • SEOUL, Oct 2- South Korean stocks are set to begin the last quarter of this year on a positive note on Tuesday after a three-day holiday, buoyed by a surprise expansion in U.S. manufacturing. Analysts said focus would be on Samsung Electronics.

  • SEOUL, Oct 2- South Korea's annual inflation in September quickened for the first time in 10 months led by foods, but stayed below the central bank's target, backing market expectations for an interest rate cut next week.

  • SYDNEY, Oct 2- Australian shares are set to open higher on Tuesday, with resources stocks likely to underpin gains after data showed a surprising expansion in U.S. manufacturing in September.

  • SEOUL, Oct 2- Following are details of South Korea's consumer price index data for September, released by Statistics Korea on Tuesday: WEIGHTING MTH/MTH YR/YR Consumer price index 100.00 0.7 2.0 By sector Agricultural, livestock, 7.76 5.2 4.1 fisheries products Industrial goods 31.77 0.8 2.5 Service sector 55.64 0.0 1.3 Other categories Core consumer price index 89.16 0.1 1.4 Fresh foods 4.17 8.8 8.6 NOTES:.

  • SEOUL, Oct 2- Following is a list of events in South Korea as well as news stories and press reports that may influence financial markets. TOP STORIES> Cheaper smartphones boost Sony, Microsoft in Europe.

  • --Delta Air Lines Inc. is issuing $1.7 billion of debt, consisting of a $1 billion B-1 term loan, $250 million B-2 term loan, and $450 million bank revolving credit. Rating Action On Oct. 1, 2012, Standard& Poor's Ratings Services assigned its' B+' issue rating and' 2' recovery rating to Delta Air Lines Inc.' s.

  • NEW YORK, Oct 1- U.S. manufacturing unexpectedly grew last month for the first time since May but euro zone factories suffered their worst quarter since early 2009 and China lost steam, suggesting the global economy faces hurdles as it tries to outrun recession.

  • CROWDFUNDING: After being turned down by many investors over four years, one of South Korea's top film producers, Choi Yong- bae, raised nearly $404,000 from more than 12,000 people in less than three months to finance a film about a notorious South Korean president blamed for the massacre of democracy protesters.

  • LONDON-- Global markets rose Monday as investors cautiously welcomed the result of stress tests of Spain's banks and upbeat U.S. economic data and looked past the threat that Moody's might downgrade the country's debt rating to junk status.

  • *Manufacturing in euro zone and Asia wilts in Sept. By Steven C. Johnson and Andy Bruce. NEW YORK/ LONDON, Oct 1- U.S. manufacturing grew slightly last month for the first time since May but euro zone factories suffered their worst quarter since early 2009, suggesting the region may struggle to avoid recession.

  • The Dow Jones industrial average rose 118 points to 13,554 as of 1 p.m. Eastern. Stocks had already been up in morning trading, but the gains accelerated after the report was released by the Institute for Supply Management, a trade group of purchasing managers. All 10 industry groups in the S&P 500 rose.

  • LAS VEGAS-- A Brooklyn Bowl entertainment venue, a Yard House beer bar and an Asian-themed food and art marketplace are among anchor tenants coming to a master-planned complex being built at the base of a big new Las Vegas Strip observation wheel, Caesars Entertainment Corp. officials will announce Monday.