* Shipbuilders' sub-index soar 4.2 pct
* Construction firms gain ground
* Samsung Elec falls 1 pct from lifetime high
By Somang Yang
SEOUL, Dec 11 South Korean shares rose modestly
on Tuesday to a two-month high as hopes for an economic recovery
in China, the country's top export market, buoyed cyclicals such
as shipmakers and builders.
The Korea Composite Stock Price Index (KOSPI)
finished up 0.4 percent at 1,964.62 points, its highest closing
level since Oct. 9, continuing a rebound from a recent low hit
"Sectors such as shipbuilding and construction are highly
sensitive to the economic outlook, which, as far as China is
concerned, is gaining traction," said Park Hae-sung, an analyst
at LIG Investment & Securities.
China's fiscal revenues grew at their fastest pace this year
in November, jumping 22 percent from a year ago, in another
encouraging sign that itstry's economic recovery is gaining
Eyes are on the U.S. Federal Reserve's tw-day meeting which
starts on Tuesday to see if the central bank would unveil more
measures to support the world's largest economy.
Shipbuilders led the charge, with the sector sub-index
rallying 4.2 percent.
STX Offshore & Shipbuilding soared 7.2 percent
following a media report that its parent firm STX Corporation
was close to a deal to sell a controlling stake in
Singapore-listed unit STX OSV Holdings.
The construction sub-index also rose 3 percent,
with Daewoo Engineering & Construction up 3.1
percent and GS Engineering & Construction firming
Index heavyweight Samsung Electronics bucked the
trend, easing 1 percent from a lifetime high hit in the previous
Foreign investors bought a net 197 billion Korean won
($182.55 million) worth of KOSPI shares, buying for an eighth
Declining shares slightly outnumbered winners 417 to 385.
The KOSPI 200 benchmark of core stocks closed up
0.4 percent, while the junior KOSDAQ declined 1.6
Move on day +0.37 percent
12-month high 2,057.28 14 March 2012
12-month low 1,750.60 19 Dec 2011
Change on yr +7.61 percent
All-time high 2,231.47 27 April 2011
All-time low 93.10 6 January 1981
($1 = 1079.1750 Korean won)
(Editing by Kim Coghill)