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Seoul stocks up late Monday morning

All News 11:31 June 03, 2019

SEOUL, June 3 (Yonhap) -- South Korean stocks traded higher late Monday morning on gains in tech blue chips.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 12.5 points, or 0.61 percent, to 2,054.24 as of 11:20 a.m.

The index started on a weak note but rebounded in late morning trade as foreigners scooped up market heavyweights.

Tech blue chips advanced. Top market cap Samsung Electronics gained 2.35 percent, and major chipmaker SK hynix rose 1.23 percent.

Top automaker Hyundai Motor picked up 1.24 percent, and state-run Korea Electric Power Corp. scored 3.08 percent.

In contrast, chemical firms were down, with LG Chem, the nation's leading battery maker, in a tit-for-tat legal battle against its smaller rival SK Innovation over trade secrets on EV batteries.

LG Chem slipped 0.13 percent, and SK Innovation lost 1.21 percent.

The local currency was changing hands at 1,182.8 won against the U.S. dollar, sharply up 8.1 won from the previous session's close.


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