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Seoul shares edge up on chipmakers advance

All News 16:08 July 03, 2018

SEOUL, July 3 (Yonhap) -- Seoul shares edged up Tuesday as gains by chipmakers such as Samsung Electronics Co. offset declines in other major industrial sectors. The won closed up against the dollar.

The benchmark Korea Composite Stock Price Index gained a marginal 1.22 points, or 0.05 percent, to 2,272.76. The main index opened up 14.34 points but shed earlier gains due to market uncertainties.

"A possible trade war between the United States and China and additional U.S. rate hikes expected this year remain major uncertainties for investors," Lee Eun-taek, a strategist at KB Securities Co., said.

Foreigners bought a net 201.66 billion won (US$180 million) worth of stocks, exceeding the net selling of 179.89 billion stocks by local institutions.

Market bellwether Samsung Electronics Co. rose 1.32 percent to 46,150 won, and No. 2 chipmaker SK hynix Inc. climbed 2.87 percent to 86,100 won.

Among losers, top carmaker Hyundai Motor Co. fell 1.21 percent to 122,000 won, and state-run utility firm KEPCO declined 2.31 percent to 31,700 won.

The local currency closed at 1,118.70 won against the U.S. dollar, up 1.30 won from the previous session's close.

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