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Seoul stocks up late Thursday morning

All News 11:33 July 12, 2018

SEOUL, July 12 (Yonhap) -- Seoul stocks traded higher Thursday morning, after the South Korean central bank decided to hold the country's key rate at the current 1.5 percent.

The benchmark Korea Composite Stock Price Index (KOSPI) added 7.82 points, or 0.34 percent, to 2,288.44 as of 11:20 a.m.

The Bank of Korea froze the key rate for July, as widely expected, extending its wait-and-see stance to eight months. In November last year, the central bank adjusted up the rate for the first time in more than six years, citing economic recovery.

Chemical shares were bullish with LG Chem advancing 0.46 percent, and Lotte Chemical jumping 2.24 percent.

Pharmaceutical giant Celltrion soared 2.35 percent, and Samsung Biologics, the healthcare unit of Samsung Group, was up 0.36 percent.

Tech shares were bearish with market kingpin Samsung Electronics declining 0.22 percent. SK hynix, a major chipmaker, was down 1.27 percent.

Top steelmaker POSCO gained 0.96 percent, and No. 1 automaker Hyundai Motor climbed 2.06 percent.

The South Korean currency was trading at 1,129.50 won against the U.S. dollar, down 9.5 won from the previous session's close.


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