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S. Korean stocks up in late Wednesday morning

All News 11:22 September 07, 2016

SEOUL, Sept. 7 (Yonhap) -- South Korean stocks advanced late Wednesday morning, as weaker than expected economic data in the U.S. diminished the chance of an imminent rate hike in the world's largest economy.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.81 points, or 0.33 percent, to 2,073.34 as of 11:20 a.m.

U.S. stocks rose slightly on Tuesday, with the tech-laden Nasdaq Composite reaching a record high, as latest economic data cemented views that the Fed may hold off its much-awaited decision.

Top market cap Samsung Electronics rose 0.43 percent, and major chipmaker SK hynix was up 1.18 percent.

Naver, the country's top portal operator, advanced 0.71 percent.

Hyundai Motor, the country's top automaker, remained flat and its smaller affiliate Kia Motors rose 0.7 percent.

The South Korean won was trading at 1,094.45 won against the U.S. greenback, up 10.75 won from the previous session's close.


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