* Third session of foreign net buying
* Presidential statement gives index a nudge up
By Christine Kim
SEOUL, Feb 25 Seoul shares climbed to a
one-month peak early on Tuesday, getting a lift after Wall
Street jumped to historic highs, while offshore investors
snapped up local stocks.
The Korea Composite Stock Price Index (KOSPI) was up
0.7 percent at 1,963.19 points as of 0217 GMT. It rose as far as
1,964.30 points earlier, the highest since Jan. 23.
"The current gains are coming amid an unstable global
environment, raising the chances of today's rise being a
temporary one," said Kang Hyun-gee, an analyst at IM Investment
"Although attributed to harsh weather conditions, ongoing
soft U.S. economic indicators along with liquidity concerns in
China may gradually pull down the index."
On Wall Street, the benchmark S&P 500 hit an intraday record
while the Nasdaq was seen at a 14-year high.
As risk sentiment heated up, foreign investors were net
buyers for a third session, snapping up 144 billion won ($134
million) worth of South Korean stocks.
A televised speech by South Korean President Park Geun-hye
on Tuesday also gave a boost to sentiment as she announced a
package of reforms with the aim of increasing the potential
economic growth rate to 4 percent by 2017.
Advancing stocks outnumbered losers 450 to 338.
Market bellwether Samsung Electronics Co Ltd
inched up 0.6 percent after it debuted its latest smartphone,
the Galaxy S5, and a new smart watch.
Internet content service operator Naver Corp
soared 6.6 percent after Bloomberg reported that Japan's
SoftBank Corp was interested in buying a stake in its
mobile-messaging service Line.
Hyundai Securities jumped 7.1 percent on media
reports that state-owned Korea Development Bank has started
moving in earnest to take over Hyundai Group's three financial
The KOSPI 200 benchmark of core stocks was up 0.7
percent, while the junior KOSDAQ edged up 0.4 percent.
($1 = 1074.5000 Korean won)
(Additional reporting by Jungmin Jang; Editing by Chris