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Seoul shares open higher despite U.S. losses

All News 09:26 June 23, 2017

SEOUL, June 23 (Yonhap) -- South Korean stocks opened higher Friday despite overnight losses on Wall Street, helped by institutional buying. The won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.07 points, or 0.13 percent, to 2,373.44.

Institutions bought a net 27.8 billion won (US$24 million) worth of stocks. Foreigners and individuals sold a combined 32.7 billion won.

On Thursday (local time), the Dow Jones industrial average inched down 0.06 percent to end at 21,397.29.

Large-cap stocks were mostly down across the board. Market bellwether Samsung Electronics backtracked 0.79 percent, major chipmaker SK hynix declined 1.38 percent and leading mobile carrier SK Telecom was down 1.71 percent.

Among gainers, top automaker Hyundai Motor rose 0.93 percent, No. 1 steelmaker POSCO gained 0.37 percent and cosmetics giant AmorePacific was up 3.25 percent.

The local currency was trading at 1,139.70 won against the U.S. dollar, up 1.20 won from the previous session's close.


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