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S. Korean shares up 1.09 pct in late morning

All Headlines 11:32 February 13, 2018

SEOUL, Feb. 13 (Yonhap) -- South Korean stocks rose late Tuesday morning as foreigners turned to net buyers on upbeat investor sentiment after Wall Street extended its rebound from last week's massive selloff.

The benchmark Korea Composite Stock Price Index had advanced 25.94 points, or 1.09 percent, to 2,411.31 as of 11:20 a.m.

Foreigners bought more shares than they sold off after major U.S. indices rose for the second day Monday following their biggest fall in two years.

Tech heavyweights rallied to support the overall market.

Market bellwether Samsung Electronics Co. jumped 3.63 percent, and SK hynix, a memory chip giant, moved up a solid 3.62 percent.

Bio shares were also in positive terrain.

Celltrion, a major pharmaceutical firm, inched up 0.17 percent.

SK Chemicals, a South Korean vaccine maker, scored 2.91 percent after signing a US$155 million vaccine license deal with French pharmaceutical giant Sanofi Pasteur.

The local currency was trading at 1,083.5 won against the U.S. dollar, up 1.1 won from the previous session's close.


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