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Seoul stocks jump late Tuesday morning on techs, chemicals

All News 11:33 August 11, 2020

SEOUL, Aug. 11 (Yonhap) -- South Korean shares jumped more than 1 percent late Tuesday morning, led by an advance by major tech firms and chemicals makers.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 28.63 points, or 1.20 percent, to 2,415.01 as of 11:20 a.m.

The index hit the 2,400-point level for the first time since June 18, 2018, heading toward a rise for the seventh consecutive trading session.

Market heavyweights traded mixed, with tech giants leading the overall market rally.

Top cap Samsung Electronics gained 1.90 percent on strong foreign buying, and No. 2 chipmaker SK hynix added 0.61 percent.

Big-three chemical heavyweights also flew high. Leading chemical maker LG Chem leaped 2.50 percent, while its smaller rivals slumped.

Samsung Biologics, the country's largest pharmaceutical firm, spiked 5.97 percent. The drugmaker announced a plan to build its fourth plant to meet rising orders.

Top steelmaker POSCO surged 4.53 percent.

In contrast, leading automaker Hyundai Motor dipped 1.47 percent, and top internet portal operator Naver shed 0.64 percent.

The local currency was trading at 1,183.65 won against the U.S. dollar, up 1.95 won from the previous session's close.


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