Seoul shares hit 38-mth high on steelmakers, shipyards

SEOUL Tue Dec 21, 2010 1:04am EST

SEOUL Dec 21 (Reuters) - Seoul shares bounced and hit a 38-month closing high on Tuesday as investor anxiety over growing geopolitical tensions in the Korean peninsula eased, and the market was lifted by gains in steelmakers and crude oil refiners.

The Korea Composite Stock Price Index .KS11 (KOSPI) ended up 0.83 percent at 2,037.09 points, the highest close since early November 2007. (Reporting by Jungyoun Park; Editing by Jacqueline Wong)