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Seoul stocks open higher on autos, pharmaceuticals

All News 09:28 February 12, 2020

SEOUL, Feb. 12 (Yonhap) -- South Korean shares opened slightly higher Wednesday, led by automobiles and pharmaceuticals.

The benchmark Korea Composite Stock Price Index (KOSPI) added 6.38 points, or 0.29 percent, to reach 2,229.50 in the first 15 minutes of trading.

Most large caps were in positive terrain -- advances by automobiles and pharmaceuticals especially stood out.

Market kingpin Samsung Electronics gained 0.33 percent, with No. 2 chipmaker SK hynix adding 0.20 percent.

Top automaker Hyundai Motor spiked 2.26 percent, while its smaller affiliate Kia Motors jumped 0.97 percent.

The two carmakers on Tuesday partially lifted the production line suspension they were forced to impose late last week due to a shortage of parts from their suppliers in China, the epicenter of the new coronavirus.

With more than two dozen confirmed cases in South Korea, pharmaceuticals continued to advance on hopes of higher demand for medical supplies and equipment.

Top pharmaceutical firm Samsung BioLogics had advanced 0.95 percent as of 9:15 a.m.

The local currency was trading at 1,182.15 won against the U.S. dollar, down 0.55 won from the previous session's close.


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