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S. Korean shares edge up in late morning trade

All News 11:23 March 11, 2016

SEOUL, March 11 (Yonhap) -- South Korean shares traded 0.16 percent higher late Friday morning as investors cheered the European Central Bank (ECB)'s stronger-than-expected easing measures.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.2 points to 1,972.53 as of 11:20 a.m.

On Thursday, the ECB unveiled market expectation-beating measures by cutting all its interest rates and expanding the scope of its bond-buying program, but its chief, Mario Draghi, ruled out the possibility of additional rate cuts down the road.

Top market cap Samsung Electronics rose 1.47 percent, and chipmaker SK hynix advanced 0.83 percent.

State-run Korea Electric Power Corp. climbed 1.21 percent, and top automaker Hyundai Motor gained 0.68 percent.

In contrast, AmorePacific, the country's top cosmetics maker, lost 2.32 percent.

The local currency was changing hands at 1,200.75 won against the greenback, up 2.75 won from the previous session's close.


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