Korea Hot Stocks - KEB advances on M&A expectation

SEOUL, Nov 17 - Stocks on the move on Tuesday include:

As of 0106 GMT, the main KOSPI <.KS11> was up 0.35 percent at 1,598.06 points.

The index opened 0.46 percent higher at 1,599.79 points.

**KEB RISES ON GROWING M&A HOPES**

Korea Exchange Bank <004940.KS> rose 4 percent to 14,300 won as hopes grew that the bank could be finally sold next year amid strong interest from top local bank Kookmin, analysts said.

Kookmin Bank CEO Kang Chung-won was quoted by local news service NewsPim as saying the bank had confidence in seeking an acquisition of KEB and that the move could come next year.

A spokesman for Kookmin's parent KB Financial Group <105560.KS> could not confirm the comments but said the bank remained interested in KEB.

"The conditions are ripe for KEB to be sold...and next year sounds reasonable," said Josh Hwang, an analyst at Woori Investment & Securities. "KEB shares could extend their rally to as much as 16,000 won , reflecting the M&A expectation."

KB Financial shares were up 1.84 percent.

0106 GMT