Seoul shares extend gains to 4 pct on exporters

SEOUL, Nov 26 (Reuters) - South Korean stocks extended gains to more than 4 percent on Monday as exporters such as LG Electronics Inc (066570.KS: Quote, Profile, Research, Stock Buzz) gained after strong U.S. sales at the start of the holiday shopping season.

Hyundai Heavy Industries Co Ltd (009540.KS: Quote, Profile, Research, Stock Buzz) and other shipbuilders also jumped on expectations for better earnings in 2008 after STX Group bumped up its sales target for next year by 54 percent from this year.

The Korea Composite Stock Price Index (KOSPI) was up 4.15 percent to 1,846.41 points by 0417 GMT.

Shares in LG Electronics, the world's top maker of household air conditioners, rose 5.85 percent to 99,500 won and South Korea's top lender Kookmin rose 2.88 percent to 64,300 won.

Hyundai Heavy, the world's top shipbuilder, jumped 11.65 percent to 436,500 won.

The Korea Exchange had suspended programme trading in the KOSPI 200 futures market for five minutes until 0423 GMT due to volatility. (Reporting by Cheon Jong-woo; Editing by Sei Chong)