Seoul shares steady to end higher, led by shipping firms

SEOUL Oct 17 (Reuters) - Shipping firms led South Korean shares to a slightly stronger close on Wednesday, as the Seoul market followed global trends fuelled by stronger than expected U.S. corporate earnings and Moody's decision to leave Spain on an investment grade credit rating.

Hanjin Shipping jumped 3.9 percent, while Hyundai Merchant Marine Company, which announced a new share issue, rose 3.2 percent.

The Korea Composite Stock Price Index (KOSPI) was up 0.7 percent to 1,955.15 points at the unofficial close, the highest in over a week. (Reporting By Somang Yang; Editing by Simon Cameron-Moore)