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Korean stocks open higher on upbeat data, stimulus measures

All News 09:31 February 11, 2020

SEOUL, Feb. 11 (Yonhap) -- South Korean stocks opened sharply higher Tuesday as investors bank on upbeat data from the United States and hopes for stimulus measures by China.

The benchmark Korea Composite Stock Price Index (KOSPI) added 13.0 points, or 0.59 percent, to 2,214.07 in the first 15 minutes of trading.

The advance came after U.S. stocks jumped overnight following upbeat data and hopes for China's stimulus measures to buffer economic fallout from the fast spread of the new coronavirus.

The Dow Jones industrial average jumped 0.60 percent to close at 29,276.82 points.

South Korea has reported 27 confirmed cases of the new coronavirus.

Most large caps traded in positive terrain in Seoul.

Market kingpin Samsung Electronics added 0.17 percent, with top pharmaceutical firm Samsung BioLogics soaring 1.51 percent.

Top chemical maker LG Chem spiked 3.75 percent, while leading automaker Hyundai Motor advanced 1.15 percent.

The local currency was trading at 1,187.65 won against the U.S. dollar, down 0.55 won from the previous session's close.


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