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Seoul stocks up late Monday morning

All News 11:36 June 04, 2018

SEOUL, June 4 (Yonhap) -- South Korean stocks traded higher Monday morning, led by gains in auto and steel shares.

The benchmark Korea Composite Stock Price Index (KOSPI) added 10.03 points, or 0.41 percent, to 2,448.99 as of 11:20 a.m.

Steel shares increased on hopes for development projects in North Korea as preparations continued for U.S. President Donald Trump's summit with North Korean leader Kim Jong-un in Singapore.

Top steelmaker POSCO rose 2.8 percent, and its smaller rival Hyundai Steel edged up 0.16 percent.

Auto shares also traded higher, with leading carmaker Hyundai Motor advancing a solid 2.14 percent and its corporate cousin Kia Motors jumping 6.11 percent.

Tech shares were mixed after Chinese media reported that Beijing was investigating Chinese branch offices of Samsung Electronics and SK hynix amid continued price increases for memory chips.

Market kingpin Samsung Electronics fell 0.58 percent, and SK hynix, a major chipmaker, inched up 0.11 percent.

Bio shares were down.

Pharmaceutical giant Celltrion lost 1.83 percent, and Samsung Biologics, the healthcare unit of Samsung Group, tumbled 7.64 percent.

The local currency was changing hands at 1,071.4 won against the U.S. dollar, up 3.6 won from the previous session's close.


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