Seoul shares hit 1-week closing high on economic optimism

SEOUL Mon Aug 26, 2013 2:14am EDT

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SEOUL Aug 26 (Reuters) - Seoul shares rose to their highest closing in a week on Monday as auto and tech issues rallied on bargain hunting led by foreigners after Friday's euro zone data brightened the global economic growth outlook.

The Korea Composite Stock Price Index (KOSPI) rose 1.0 percent to 1,887.86 points, the highest closing level since Aug. 19.

Automaker Hyundai Motor Co rose 3.7 percent and its affiliate Kia Motors Corp gained 2.1 percent. Battery maker Samsung SDI Co Ltd rose 3.8 percent, while LG Display Co Ltd advanced 3.0 percent.

Foreign investors were net buyers of 189.6 billion won ($169.75 million) worth of local shares. ($1 = 1116.9500 Korean won) (Reporting by Jungmin Jang; Editing by Choonsik Yoo and Jacqueline Wong)

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