Seoul shares inch up as foreign inflows buoy market heavyweights
* KOSPI rises alongside regional markets
* Foreigners on track for 42nd straight day of buying
* Large-caps Samsung Electronics, Hyundai Motor up
SEOUL, Oct 28 (Reuters) - Seoul shares edged higher as foreign investors bought heavyweights like Samsung Electronics Co Ltd and Hyundai Motor Co on stronger earnings hopes, though concerns about China's credit situation capped market gains.
The Korea Composite Stock Price Index (KOSPI) inched up 0.3 percent on Monday morning to 2,040.67 points by 0200 GMT after touching as low as 2,030.90.
"Expectations on an extended United States stimulus alongside firm economic growth (in South Korea) are all favouring the market's upward trend," said Ko Seung-hee, an analyst at SK Securities.
Samsung Electronics and Hyundai rose 2.4 percent and 2.5 percent respectively on prospects of higher earnings in the upcoming quarters.
After notching a record 41 consecutive sessions as net buyers on Friday, foreign investors appeared set to extend the streak, purchasing 47.1 billion won ($44.35 million) of shares on Monday morning.
But shipbuilding and chemical shares that have risen sharply in recent months were struck by profit-taking. Some investors are concerned those sectors will be hit after Chinese regulators signaled they are considering mild tightening in short-term lending rates to bring rising property prices and inflation under control.
Samsung Heavy Industries Co Ltd and SK Chemicals Co Ltd fell 4.5 percent and 5.8 percent respectively as declining shares outnumbered gainers 460 to 324.
The KOSPI 200 benchmark of core stocks climbed 0.3 percent, while the junior KOSDAQ edged up 0.2 percent. ($1 = 1061.9000 Korean won) (Reporting by Jungmin Jang; Editing by Kenneth Maxwell)
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