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Seoul stocks trade higher late Wednesday morning

All News 11:31 August 05, 2020

SEOUL, Aug. 5 (Yonhap) -- South Korean stocks traded higher late Wednesday morning as investors continued to bet on anticipated economic stimulus moves by Washington and the falling number of new coronavirus patients in the United States.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 14.83 points, or 0.65 percent, to 2,294.80 as of 11:20 a.m.

But the gain was limited, as some investors also cashed in recent profits. The main bourse closed at the highest level in nearly two years in the previous session.

Top market cap Samsung Electronics slid 1.4 percent, as investors sat on the sidelines ahead of its announcement of new mobile devices. No. 2 chipmaker SK hynix lost 1.23 percent.

Chemical firms gathered ground, with LG Chem rising 3.89 percent. Oil refiner SK Innovation jumped 9.09 percent.

Hanmi Pharmaceutical shot up to the daily permissible limit of 29.91 percent. Samsung Biologics climbed 5.17 percent, and Celltrion added 2.32 percent.

The local currency was trading at 1,190.60 won against the U.S. dollar, up 3.50 won from the previous session's close.


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