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Seoul stocks up late Thursday morning on recovery hopes

Stocks 11:36 July 09, 2020

SEOUL, July 9 (Yonhap) -- South Korean shares traded higher late Thursday morning, boosted by investors' appetite for risky assets on hopes of a quick economic recovery.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.22 points, or 0.47 percent, to 2,169.10 as of 11:20 a.m.

Despite record daily number of virus cases, the NASDAQ Composite jumped 1.44 percent Wednesday (New York time), setting another record high at 10,492.50 points. The Dow Jones Industrial Average added 0.68 percent.

Most large-cap shares in Seoul traded higher.

Tech giant Samsung Electronics advanced 0.57, while No. 2 chipmaker SK hynix dipped 0.72 percent.

Internet portal operator Naver surged 3.05 percent, and No.1 mobile messenger app operator Kakao spiked 5.49 percent. Leading game publisher NCSOFT climbed 0.63 percent.

Top pharmaceutical firm Samsung BioLogics rose 0.68 percent, with leading chemical maker LG Chem jumping 2.14 percent.

The local currency was trading at 1,194.05 won against the U.S. dollar, up 1.45 won from the previous session's close.

jwc@yna.co.kr
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