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S. Korean shares trade higher on large cap gains

All News 11:30 February 01, 2017

SEOUL, Feb. 1 (Yonhap) -- South Korean shares were trading sharply higher late Wednesday morning, helped by large cap gains.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 10.89 points, or 0.53 percent, to 2,078.46 as of 11:20 a.m.

Such an increase came despite large overnight losses on Wall Street.

The Dow Jones industrial average lost 107.04 points, or 0.54 percent, to close at 19,864.09 on Tuesday (New York time).

Foreign investors were net buyers, purchasing a net 34.8 billion won (US$30.1 million) worth of local shares. Institutions and retail investors, on the other hand, were net sellers.

Most large caps were in positive terrain.

Top cap Samsung Electronics shed 0.15 percent, but global chipmaker SK hynix spiked 1.12 percent.

Leading auto parts maker Hyundai Mobis soared 2.07 percent, while top chemical producer LG Chem surged 2.86 percent.

The local currency was trading at 1,154.85 won against the U.S. greenback, up 7.25 won from the previous session's close.


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