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Asia Top News and Analysis South Korea

  • *S&P/ASX 200 index fell 7 points to 4,483.5* Lynas Corp Ltd. plunges 15 pct on Malaysia delay. Shares pulled back from 14- month highs on Wednesday after the IMF cut its growth forecast for China, Australia's biggest export market.

  • MOSCOW, Oct 11- Here are events and news stories that could move Russian markets on Thursday. MOSCOW- Russian government to hold a meeting on the grain harvest. MOSCOW- Russia's top food retailer X5 Retail Group.

  • MELBOURNE, Oct 11- Australian shares fell 0.2 percent on Thursday, weighed by weakness in miners but paring steeper earlier losses after data showed a jump in jobs in September. Lynas Corp Ltd plunged 15 percent as it faced another delay in opening its rare earths plant in Malaysia.

  • SEOUL, Oct 11- Following are details of the South Korean central bank's revised economic forecasts for 2012 and 2013:. NOTE: The International Monetary Fund lowered on Monday its forecast for South Korea's economic growth for this year to 2.7 percent from 3.0 percent seen in September.

  • SEOUL, Oct 11- South Korea's central bank expects recovering capital investment to drive next year's economic rebound as consumer spending and construction investment will likely remain weak, its revised forecasts showed on Thursday.

  • *North Sea output to fall by 1 percent in November. BP purchased its fourth cargo this week on Thursday and rival traders expect the oil to be loaded onto a Very Large Crude Carrier bound for South Korea, removing a chunk of supply from northwest Europe.

  • SEOUL, Oct 11- South Korea's central bank cut interest rates as well as growth forecasts on Thursday, as expected, and its projection of an economic rebound next year affirmed a market expectation it was not likely to ease policy again soon. pared losses as the Bank of Korea's views eased concerns about the local economy slipping further down.

  • SEOUL, Oct 11- South Korea's largest refiner, SK Energy, will delay a maintenance shutdown at its No.2 crude distillation unit to next year from the originally planned dates starting this month, a spokesman at parent company SK Innovation said.

  • SEOUL, Oct 11- South Korea's central bank cut interest rates for the second time in four months on Thursday, as expected, in a bid to boost demand so as to help Asia's fourth-largest economy through a global slowdown. The Bank of Korea's monetary policy committee cut its base rate by 25 basis points to 2.75 percent, a media official said without elaborating.

  • SEOUL, Oct 11- South Korea's central bank cut interest rates for the second time in four months on Thursday, as expected, in a bid to boost demand so as to help Asia's fourth-largest economy through a global slowdown. The Bank of Korea's monetary policy committee cut its base rate by 25 basis points to 2.75 percent, a media official said without elaborating.

  • SEOUL, Oct 11- South Korea's central bank cut interest rates for the second time in four months on Thursday, as expected, in a bid to boost demand so as to help Asia's fourth-largest economy through a global slowdown. -Reuters survey: 22 out of 24 analysts surveyed predicted the Bank of Korea would cut the rate in October, whereas the remaining two saw no change.

  • BANGKOK-- Asian stock markets fell Thursday after Spain, the fourth-largest euro economy, was slapped with a two-notch credit downgrade and the U.S. earnings season opened with a whimper.

  • SEOUL, South Korea-- South Korea's central bank cut its key interest rate Thursday for the second time this year and slashed growth forecasts as Asia's fourth-largest economy faces mounting threats from the protracted debt crisis in Europe and a worsening global slowdown.

  • SEOUL, Oct 11- Seoul shares reversed some losses in early trade on Thursday, though investors remained worried about global growth. "The index is recovering from a week of losses, but its movement today will be limited as there is no new momentum," said Bae Sung- yung, an analyst at Hyundai Securities.

  • *S&P downgrades Spain; Brazil and South Korea cut rates. TOKYO, Oct 11- The IMF prodded the world's rich countries for swifter action on Thursday as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.

  • *ING's first deal in Asia asset sell-off. HONG KONG/ AMSTERDAM, Oct 11- Pan Asian insurer AIA Group Ltd has agreed to buy ING's Malaysian insurance operations for $1.73 billion in cash, handing the Dutch financial services firm its first deal in a nine-month drive to sell off Asian assets.

  • BOK Rate Cut Not a Surprise: Pro

    Hamish Pepper, FX Strategist for Asia Pacific at Barclays Capital, says the BOK's decision to cut rates by 25 bps to 2.75 per cent was not a surprise as the country has been hit by the weak global economy.

  • SEOUL, Oct 11- South Korea's central bank sharply cut its economic growth forecasts for this year and next after trimming interest rates for the second time this year to shore up Asia's fourth-largest economy on Thursday, its governor said.

  • *Bank of Korea seen lowering growth forecasts on Thursday. SEOUL, Oct 11- South Korea's central bank cut interest rates for the second time in four months on Thursday to bolster the economy through a global slowdown, warning of continuing risks to growth and recovery likely to be slow.

  • SEOUL, Oct 11- Following is the full text of a statement released by South Korea's central bank after it cut interest rates for the second time this year on Thursday, as expected:. "The Monetary Policy Committee of the Bank of Korea decided today to lower the Base Rate by 25 basis points from 3.00 percent to 2.75 percent."