KOSPI at new 2008 peak, but techs limit gains

SEOUL, May 16 (Reuters) - Seoul shares inched up on Friday, extending recent gains to hit a new 2008 closing high led by shipbuilders, but the index gave up much of its early advance on losses by tech shares such as LG Display (034220.KS: Quote, Profile, Research, Stock Buzz).

The Korea Composite Stock Price Index closed 0.17 percent higher at 1,888.88 points after a 0.7 percent gain in early trade that helped it turn positive on the year, fully recouping the 19 percent drop that brought it to its mid-March low.

The KOSPI's session high of 1,899.57 points took the index above 2007's closing of 1,897.13 for the first time this year.

(Reporting by Park Jung-youn; editing by Jonathan Hopfner)