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Seoul stocks extend gains late Monday morning

All News 11:29 April 27, 2020

SEOUL, April 27 (Yonhap) -- South Korean stocks extended gains late Tuesday morning amid hopes of drug development for the new coronavirus and a continued slowdown in new virus cases.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 27.19 points, or 1.44 percent, to 1,916.2 as of 11:20 a.m.

In a sign of the containment of the new coronavirus, the country reported just 10 new cases Monday.

In Seoul, most large-cap stocks were trading mixed across the board.

Market bellwether Samsung Electronics rose 0.51 percent after opening lower, No. 2 chipmaker SK hynix was up 1.35 percent, and top carmaker Hyundai Motor gained 1.55 percent.

In contrast, major pharmaceutical firm Samsung BioLogics lost 0.51 percent after opening higher and chemical firm LG Chem shed 0.42 percent.

The local currency was trading at 1,231.8 won against the U.S. dollar, up 3.6 won from the previous session's close.


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