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Seoul shares extend losses late Thursday morning

All News 11:32 January 02, 2020

SEOUL, Jan. 2 (Yonhap) -- South Korean stocks extended their losses late Thursday morning as investors apparently went for profit-taking.

On the first day of trading of the new year, the benchmark Korea Composite Stock Price Index (KOSPI) fell 20.81 points, or 0.95 percent, to 2,176.86 as of 11:20 a.m.

Most large caps were in negative terrain.

Top cap Samsung Electronics slipped 0.90 percent, and its smaller rival LG Electronics dropped 1.11 percent. However, global chipmaker SK hynix advanced 0.43 percent.

Auto shares were also bearish as No. 1 automaker Hyundai Motor fell 0.83 percent, while its sister company Kia Motors dived 2.71 percent. Auto parts maker Hyundai Mobis plunged 2.34 percent.

Top pharmaceutical firm Celltrion fell 1.93 percent, while Samsung BioLogics lost 1.04 percent.

The local currency was trading at 1,157.00 won against the U.S. dollar, down 0.60 won from the previous session's close.

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