* Blue-chips mostly up; Samsung Elec, Hyundai Motor gains
* POSCO edges down on Fitch's ratings downgrade
SEOUL Nov 27 Seoul shares were up on Tuesday as
news of debt target agreements for Greece and hopes for
resolution of a potential U.S. fiscal crunch dispelled some of
the uncertainty seen in the previous session.
The Korea Composite Stock Price Index (KOSPI) ticked
0.95 percent higher at 1,926.66 points as of 0204 GMT.
"The news of the Greek debt deal, plus U.S. fiscal cliff
talks resuming this week, has spurred investor appetite," said
Kim Young-joon, an analyst at SK Securities.
He said ongoing program buying from state and regional
governments is expected to continue until the KOSPI reaches
Euro zone finance ministers and the International Monetary
Fund clinched agreement on reducing Greece's debt on Monday in a
breakthrough to release urgently-needed loans to keep the
near-bankrupt economy afloat.
Blue-chips were mostly up, with market heavyweight Samsung
Electronics Co climbing 1.1 percent to edge closer
to its lifetime closing high reached on Friday.
Hyundai Motor Co rose 3 percent around
mid-session, extending Monday's gain after falling 14 percent
between end-September and Friday. Affiliates like Kia Motors
Corp and Hyundai Mobis Co Ltd also
However, steelmaker POSCO bucked the trend by
sliding 0.5 percent after credit rating agency Fitch Ratings
downgraded POSCO to 'BBB+' from 'A-' after Monday's market
Among large movers, shares in Taihan Electric Wire Co Ltd
rose 3.7 percent during Tuesday's trading, gaining
for the fourth straight session.
Taihan Electric Wire's largest shareholder, Taihan Systems,
is set to sell 50 percent of Taihan Electric Wire's warrants to
Taihan Fiberoptics Co Ltd, an affiliate majority
owned by a local private equity fund, a spokeswoman for Taihan
Electric Wire said Tuesday.
In return, Taihan Electric Wire will receive about 60
billion won ($55.28 million) next month, local newspaper Korea
Economic Daily reported Tuesday.
Local institutional investors net purchased 193.7 billion
Korean won ($178.45 million) worth of KOSPI shares near
mid-session, buttressing the index. Advancing shares outnumbered
decliners 407 to 364.
The KOSPI 200 benchmark of core stocks was up 1.1
percent, while the junior KOSDAQ edged 0.1 percent
($1 = 1085.4500 Korean won)
(Reporting by Joyce Lee; Editing by Eric Meijer)