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Seoul stocks pare earlier gains late Tues. morning amid virus woes

All News 11:46 July 07, 2020

SEOUL, July 7 (Yonhap) -- South Korean stocks swung to a loss late Tuesday morning amid growing concerns over the resurgence of the coronavirus around the globe.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.74 points, or 0.35 percent, to 2,180.19 as of 11:20 a.m.

Investors are increasingly worrying about spiking cases in the United States and other countries, while pinning high hopes on economic recovery.

Market bellwether Samsung Electronics tumbled 1.82 percent to 54,000 won, after peaking at 55,900 won on a stellar second-quarter earnings guidance report.

No. 2 chipmaker SK hynix dipped 1.05 percent.

Top pharmaceutical firm Samsung BioLogics added 0.53 percent, and leading chemical maker LG Chem jumped 2.36 percent.

The country's largest automaker Hyundai Motor shed 0.49 percent, with its auto parts-making affiliate Hyundai Mobis falling 1.47 percent.

Top game publisher NCSOFT dropped 2.51 percent.

Internet giant Naver advanced 0.71 percent, and its rival Kakao spiked 4.16 percent.

The local currency was trading at 1,193.10 won against the U.S. dollar, up 2.70 won from the previous session's close.


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