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Seoul stocks trim gains late Wednesday morning

All News 11:30 February 19, 2020

SEOUL, Feb. 19 (Yonhap) -- South Korean stocks trimmed earlier gains late Wednesday morning due to rising concerns of the spread of the novel coronavirus in the country.

The benchmark Korea Composite Stock Price Index (KOSPI) had risen 4.13 points, or 0.19 percent, to 2,213.01 as of 11:20 a.m.

The index opened higher, bucking overnight losses on Wall Street, but moved downward after South Korean health authorities reported 15 additional COVID-19 infections, the biggest daily jump in confirmed cases here, bringing the total to 46.

Large caps were mixed.

Market bellwether Samsung Electronics rose 0.50 percent, while No.2 chipmaker SK hynix added 0.98 percent.

Leading automaker Hyundai Motor gained 0.75 percent, and auto parts maker Hyundai Mobis advanced 0.85 percent.

However, the country's No. 1 chemical firm, LG Chem, plunged 1.79 percent, while top pharmaceutical firm Samsung BioLogics shed 1.17 percent.

The local currency was trading at 1,189.40 won against the U.S. dollar, up 0.10 won from the previous session's close.

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