Seoul shares climb out of 3-month trough on technical support

* Resilience in U.S stocks calms jittery sentiment
* Cyclicals rebound after steep declines on Monday
* SK hynix bucks gaining trend among techs

By Joonhee Yu
SEOUL, May 8 (Reuters) - South Korea's main KOSPI index rode
technical support to stage a mild recovery on Tuesday from a
three-month closing low hit in the previous session, after U.S.
stocks were relatively undisturbed by the anti-austerity wave
sweeping across Europe.
The Korea Composite Stock Price Index (KOSPI) was up
0.45 percent at 1,965.29 points as of 0150 GMT.
"Technicals are kicking in after yesterday's exaggerated
falls, with investors seeing little fundamental risk from the
news out of Europe beyond the initial shock," said Cho
Sung-joon, an analyst at NH Investment & Securities.
Wall Street investors on Monday brushed off the news of
political upheaval in Europe, encouraged by calls for more
growth-oriented policies which have gained traction among
European officials in recent weeks.
"(French president-elect Francois) Hollande is not a
radical. He may pursue some small changes under the guidelines
of the European Central Bank, International Monetary Fund, and
the European Commission, with that troika still serving as the
main determinant of the euro zone's policy direction," said Cho.
Cyclicals recovered after posting steep losses in the
previous session, with Samsung Heavy Industries, the
world's second-largest shipbuilder and one of Monday's heaviest
decliners, gaining 2.4 percent.
GS Holdings rose 2 percent after its subsidiary
GS Caltex, South Korea's second-biggest crude refiner, restarted
a naphtha splitter unit that was unexpectedly shut down last
month, according to traders.
Large-cap technology shares lent support, with Samsung SDI
rallying 4.6 percent while LG Display
climbed 1.9 percent.
Chipmaker SK hynix bucked the trend, falling 0.9
percent after Micron Technology won the right to
negotiate exclusively for a buyout of Elpida Memory after
bidding an excess of $2.5 billion for the Japanese firm,
potentially surpassing SK hynix to create the world's
second-largest chipmaker.
Shares in SKC Corp rose 1.8 percent after local
media reports the company had developed the world's thinnest
ceramic film for near field communication (NFC) modules, a core
component of various devices including smartphones.

(Reporting by Joonhee Yu; Editing by Jonathan Hopfner)