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Seoul stocks open higher on bargain hunting

All News 09:25 January 31, 2020

SEOUL, Jan. 31 (Yonhap) -- South Korean stocks opened higher on Friday as investors scooped up bargains, but investor sentiment remained shaky on concerns over the rapid spread of the new coronavirus.

The benchmark Korea Composite Stock Price Index added 6.45 points, or 0.30 percent, to reach 2,154.45 in the first 15 minutes of trading.

Seoul shares closed lower on Thursday as foreigners and institutions dumped local shares as fears over the novel coronavirus escalated. The country reported two more cases of the new coronavirus on the day, with one believed to be the country's first human-to-human transmission, bringing the total number of people infected here to six.

The virus has killed 213 people so far and infected nearly 10,000 people across the world.

In Seoul, market kingpin Samsung Electronics advanced 0.7 percent, and No. 2 chipmaker SK hynix grew 0.74 percent.

Carmakers were mixed, with No. 1 Hyundai Motor climbing 0.39 percent, while Kia Motors shed 0.36 percent. Auto parts maker Hyundai Mobis was unchanged.

The local currency was trading at 1,187.85 won against the U.S. dollar, down 2.85 won from the previous session's close.


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