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S. Korean shares up 0.6 pct in late morning trading

All News 11:26 October 04, 2016

SEOUL, Oct. 4 (Yonhap) -- South Korean shares traded 0.64 percent higher late Tuesday morning as foreign investors scooped up market heavyweights, with tech and auto shares leading the way.

The benchmark Korea Composite Stock Price Index (KOSPI) added 13.14 points to 2,056.77 as of 11:20 a.m.

Tech shares advanced ahead of the third-quarter earnings season.

Top market cap Samsung Electronics rose 1 percent as the tech giant was set to release its third-quarter earnings guidance on Thursday, and SK hynix, the world's second-largest chipmaker, increased 3.48 percent.

Auto shares were in the positive terrain.

Leading automaker Hyundai Motor surged 2.95 percent, and its sister company Kia Motors climbed 0.95 percent.

In contrast, bio stocks dropped sharply following heavy losses in the previous session.

Hanmi Pharmaceutical, the No. 1 player in the sector, tumbled 3.54 percent after it on Friday announced its license deal on a lung cancer treatment with German drugmaker Boehringer Ingelheim ended. Its holding firm Hanmi Science also plummeted 5.26 percent.

The local currency was trading at 1,102.8 won against the U.S. dollar, down 1.5 won from the previous session's close.

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