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Seoul stocks dip late Wednesday morning

All News 11:31 July 08, 2020

SEOUL, July 8 (Yonhap) -- South Korean stocks dipped late Wednesday morning as investors grew wary of a delayed economic recovery and recent surge in novel coronavirus cases.

The benchmark Korea Composite Stock Price Index shed 8.90 points, or 0.41 percent, to 2,155.27 as of 11:20 a.m.

The index opened nearly flat following overnight losses on Wall Street. The Dow Jones Industrial Average fell 1.51 percent to 25,890.18, and the Nasdaq Composite dropped 0.86 percent, to 10,343.89.

In Seoul, large-cap stocks traded mixed.

Market behemoth Samsung Electronics slid 0.37 percent, while SK hynix, a major chipmaker, fell 1.30 percent.

Top automaker Hyundai Motor rose 0.81 percent, but leading chemical firm LG Chem dropped 0.97 percent.

Pharmaceutical giant Samsung Biologics plunged 2.93 percent, but its local rival Celltrion gained 0.49 percent.

The local currency was trading at 1,196.60 won against the U.S. dollar, down 0.90 won from the previous session's close.

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