Seoul shares up

Seoul shares rose on Monday helped by strong US manufacturing data, sustained foreign buying and firm gains in automakers and brokerages like Hyundai Motor and Woori Investment & Securities . The Korea Composite Stock Price Index ended up 0.92 percent at 2,145.30 points.
KOSPI 200 September futures ended up 3.5 points at 283.90 points and the KOSPI 200 spot index rose 2.9 points to 281.67. The junior Kosdaq market ended up 1.07 percent at 489.30 points. "Solid US manufacturing data has restored confidence in the market, and boosted foreign investor appetite, which comes as a positive sign," said Kim Young-june, a market analyst at SK Securities.
US manufacturing grew at a surprisingly strong pace in June, data showed on Friday, suggesting that global economy is starting to shake off its recent weakness. Foreign investors were buyers of a net 157.6 billion won($147.9 million) worth of stocks, picking up shares for a fourth straight session.
Key technology exporters led gains, with Samsung Electronics , the world's No 1 memory chip maker and the largest share on the main KOSPI, gaining 2.7 percent. LG Electronics, the world's No 3 handset maker, rose 1.3 percent. Hyundai Motor and Kia Motors advanced 1.7 percent and 1.2 percent respectively after posting strong US sales in June.
Hana Financial Group rallied 2.8 percent on hopes for its deadlocked $4.3 billion take-over of Korea Exchange Bank (KEB) after its banking unit concluded a loan agreement with KEB's majority stakeholder Lone Star. "(The agreement) makes the deal more binding and raises the possibility of Hana's KEB acquisition," Kim Jae-woo, a Samsung Securities analyst, said in a research note.
Hana and Lone Star are in talks to extend what could be the country's biggest banking deal after the deadline lapsed due to delays in regulatory approval. KB Financial Group and Woori Finance Holdings rose 1.8 percent and 1.4 percent respectively. But KEB tumbled 4.7 percent after news US buyout fund Lone Star will secure a $466 million dividend payout from its stake in the lender, despite South Korean regulators voicing concerns about the bank's hefty dividend plan. Brokerages rallied as the market gained for a fourth session.