* Foreign net inflows on track for a 13th straight day
* Steelmakers benefit from price rise in steel and firm won
* Shipbuilders keep rallying on China data
SEOUL, Sept 10 Seoul shares touched another
three-month intraday high on Tuesday morning, helped by
continued foreign buying of local stocks and fresh signs of
global economic stability, driven by China data.
The Korea Composite Stock Price Index (KOSPI) was up
0.5 percent at 1,984.70 points as of 0204 GMT after hitting
1,988.74, its highest intraday level since June 5.
China's trade and inflation data for August have bolstered
investors' confidence in the world's second-largest economy, and
global markets are hopeful that industrial output and retail
sales will provide more evidence the country has averted a sharp
"Upbeat China data and foreign investors are underpinning
the market," said Lee Jae-hoon, an analyst at Mirae Asset
Lee said further gains may be capped as foreigners have made
net purchases of more than 500 billion won ($460.07 million) of
local stocks the past three sessions and the buying pace could
Foreign net buying of local stocks was at 266.3 billion won
in the morning. The streak of foreign net buying, hitting a 12th
day on Monday, is the longest this year.
Steelmakers rallied on prospects for higher earnings on
global price rises in steel and the firm Korean won.
POSCO rose 1.7 percent, while Hyundai Steel Co
advanced 2.1 percent.
Shipbuilders gained again on data from China, South Korea's
biggest export market. Hyundai Heavy Industries Co
led gains, with 3.1 percent, while Daewoo Shipbuilding & Marine
Engineering Co Ltd and Hyundai Mipo Dockyard Co Ltd
rose 3.6 percent and 1.7 percent, respectively.
SK Hynix Inc, a key supplier to Apple Inc
, gained 1.4 percent on expectations for higher earnings
as the U.S. company is set to unveil its newest smartphones
later on Tuesday.
Gainers outnumbered decliners 446 to 316.
The KOSPI 200 benchmark of core stocks gained 0.6
percent, while the junior KOSDAQ edged 0.2 percent