South Korea won rises, but foreign stock sales cap

(Updates to midday)

SEOUL, Dec 24 (Reuters) - The South Korean won rose on
Monday on improved risk appetite, but gains were limited as
foreign investors kept selling out of the local stock markets.

The won was up 0.3 percent at 937.7/8.1 per dollar at 0300
GMT from the previous closing bid of 940.3.

"Firmer stock prices amid an improving risk appetite are
supporting the won, but trading is quite slow due to a holiday
mood," said a foreign bank dealer.

Seoul stock market's benchmark KOSPI jumped 2.05
percent, but foreign investors were net sellers of shares worth
54.6 billion won by 0300 GMT, likely marking their 10th
consecutive session as sellers.

Traders ignored announcements by Samsung Heavy Industries
Co (010140.KS) that it had won shipbuilding orders worth a
combined $2.41 billion from abroad, which could lead to
increased dollar sales in the forward trading for the won.
[ID:nSEL000249]

0300 GMT 0030 GMT prev close
Won KRW= 937.7/8.1 937.5/7.9 940.3
Yen/won JPYKRW=R 8.2129/220 8.2122/193 8.2345
KOSPI 1,916.76 1,910.83 1,878.32
(Reporting by Yoo Choonsik; Editing by Ramthan Hussain)