* Concern over U.S. fiscal cliff and Greek vote weigh
* Exporters bullish; Hyundai Motor up 2.2 pct
* KEPCO drops 3 pct after CEO resigns
SEOUL, Nov 7 South Korean shares rose on
Wednesday to its highest level in two weeks as U.S. President
Barack Obama won re-election, dispelling uncertainty after a
choppy trading session.
The Korea Composite Stock Price Index (KOSPI) closed
up 0.49 percent at 1,937.55 points, reversing losses earlier in
the session to reach its highest closing since Oct. 22.
"With uncertainty over the U.S. election gone, non-dollar
currencies strengthened against the U.S. dollar and lifted the
main board," said Kim Ho-yoon, an analyst at Hana Daetoo
"However, concern about the U.S. fiscal cliff and imminent
Greek austerity vote kept the index from rising higher."
Exporter shares such as tech and auto were bullish, with
market heavyweight Samsung Electronics up 1 percent
while Hyundai Motor climbed 2.2 percent. The two
companies account for 20 percent of the KOSPI's market
Investors avoided defensive plays such as utilities,
pharmaceuticals and insurance, with Samsung Life Insurance
down 1 percent while Green Cross Corp
fell 4.6 percent.
State-run utility Korea Electric Power Corp (KEPCO)
dropped 3 percent, after its CEO Kim Joong-kyum
resigned for what KEPCO officials said were "personal reasons."
Foreign investors bought a net 88.5 billion won ($81.14
million) worth of KOSPI shares, buttressing the index.
Gainers closely outnumbered decliners 410 to 401.
The KOSPI 200 benchmark of core stocks closed up
0.6 percent, while the junior KOSDAQ edged 0.2 percent
Move on day +0.49 percent
12-month high 2,057.28 14 March 2012
12-month low 1,750.60 19 Dec 2011
Change on yr +6.1 percent
All-time high 2,231.47 27 April 2011
All-time low 93.10 6 January 1981
($1 = 1090.7000 Korean won)
(Reporting by Joyce Lee; Editing by Eric Meijer)