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Seoul stocks trade higher late Monday morning

All News 11:27 May 11, 2020

SEOUL, May 11 (Yonhap) -- Seoul stocks continued to trade higher late Monday morning as investors' concerns over the economic fallout from the new coronavirus pandemic eased.

The benchmark Korea Composite Stock Price Index (KOSPI) added 5.62 points, or 0.29 percent, to 1,951.44 as of 11:20 a.m.

Investors' sentiment was boosted on signs of a slowdown in the COVID-19 pandemic in major economies, which also gave the go-ahead for business activities, including factory operations.

The better-than-expected U.S. jobs data rekindled investors' appetite for risky assets as well.

In Seoul, major blue chips traded mixed.

Top market cap Samsung Electronics moved up 0.31 percent, while No. 2 chipmaker SK hynix slid 0.35 percent.

Leading pharmaceutical firm Samsung BioLogics fell 0.34 percent, while Celltrion gained 1.19 percent.

The local currency was trading at 1,215.35 won against the U.S. dollar, up 4.55 won from the previous session's close.

Currency dealers work in front of an electronic signboard at the headquarters of Hana Bank in Seoul on May 11, 2020. (Yonhap)

colin@yna.co.kr
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