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S. Korean stocks up sharply in late morning trade

All News 11:23 January 11, 2017

SEOUL, Jan. 11 (Yonhap) -- South Korean stocks traded higher Wednesday morning, as Samsung Electronics, the country's top market cap, and other market heavyweights advanced.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.80 points, or 1.02 percent, to 2,065.92 as of 11:20 a.m.

Top market cap Samsung Electronics hit a fresh record high, rising 1.72 percent and major chipmaker SK hynix also rose to an all-time high, rising for fifth consecutive day.

POSCO, the country's top steelmaker, also spiked 6.01 percent and SK Telecom, the No.1 mobile carrier, climbed 1.11 percent.

In contrast, automakers remained in negative terrain.

Hyundai Motor, the country's top automaker, shed 2.3 percent while its smaller affiliate Kia Motors fell 0.74 percent.

The South Korean won was trading at 1,198.70 won against the U.S. greenback, down 4.1 won from the previous session's close.


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