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Seoul stocks trade nearly flat late Friday morning on virus uncertainties

All News 11:39 July 31, 2020

SEOUL, July 31 (Yonhap) -- South Korean shares traded nearly flat late Friday morning, as economic uncertainties loom large amid the new coronavirus pandemic.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.18 points, or 0.14 percent, to 2,267.01 as of 11:20 a.m.

The index remained choppy, as investors attempted to lock in gains after the U.S. economy contracted by the most in 73 years in the second quarter.

In contrast, South Korea's industrial output, retail sales and facility investment showed on-month growth in June. It is the first time in six months that all three indices increased.

Large caps traded mixed in Seoul.

Market bellwether Samsung Electronics dropped 0.51 percent, and No. 2 chipmaker SK hynix lost 1.64 percent.

Top pharmaceutical company Samsung Biologics edged up 0.14 percent, with Celltrion down 0.33 percent.

Internet giant Naver climbed 1.7 percent, with its rival Kakao advancing 3.16 percent.

Hyundai Motor, the country's largest automaker, shed 0.39 percent, with its smaller affiliate Kia Motors dipping 1.23 percent.

Auto parts maker Hyundai Mobis fell 2.11 percent.

The local currency was trading at 1,187.70 won against the U.S. dollar, up 6.7 won from the previous session's close.


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