* Auto makers, shipbuilders bullish after recent losses
* LG Display down on profit-taking since Tuesday's 18-mth
SEOUL Nov 29 South Korean shares climbed on
Thursday, hitting a three-week closing high as hints of a
possible compromise in U.S. fiscal talks spurred investor
The Korea Composite Stock Price Index (KOSPI) rose
1.15 percent to close at 1,934.85 points, its highest finish
since Nov. 7.
"Today's session kept to the recent pattern of the main
board reacting to the news flow surrounding the U.S. fiscal
cliff," said Kang Hyun-gie, an analyst at IM Investment &
Local stocks mirrored Asian peers edging higher on Thursday
as sentiment improved after a senior U.S. lawmaker said he was
"optimistic" on reaching a budget deal before the end of the
year to avoid a fiscal crisis.
Sectors such as autos and shipbuilding that recently saw
comparatively steeper losses were bullish, with Kia Motors Corp
up 4.7 while STX Offshore & Shipbuilding Co Ltd
rallied 10.5 percent.
Other blue chips were mostly up, but LG Display Co Ltd
bucked the trend by falling 3.8 percent on
profit-taking, dropping steadily after it reached an 18-month
high on Tuesday.
Local institutional investors net-purchased 272.5 billion
Korean won ($251 million) worth of KOSPI shares during the
session, buttressing the index. Gaining shares outnumbered
decliners 537 to 274.
The KOSPI 200 benchmark of core stocks rose 1.2
percent, while the junior KOSDAQ edged 0.5 percent
Move on day +1.15 percent
12-month high 2,057.28 14 March 2012
12-month low 1,750.60 19 Dec 2011
Change on yr +5.9 percent
All-time high 2,231.47 27 April 2011
All-time low 93.10 6 January 1981
($1 = 1086.4000 Korean won)
(Reporting by Joyce Lee)