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Seoul stocks down late Wed. morning on profit-taking

All News 11:36 August 12, 2020

SEOUL, Aug. 12 (Yonhap) -- South Korean stocks fell back into negative terrain late Wednesday morning on profit-taking, following a weeklong rally.

The benchmark Korea Composite Stock Price Index fell 5.62 points, or 0.23 percent, to 2,413.05 as of 11:20 a.m.

The index took a breather, with investors weighing profit-taking.

Stocks advanced for a seventh consecutive session Tuesday, marking the longest streak of gains since June.

Most large caps traded mixed.

Market bellwether Samsung Electronics added 0.17 percent, while No. 2 chipmaker SK hynix dipped 1.23 percent.

Hyundai Motor, the country's largest automaker, retreated 1.96 percent, with its smaller affiliate Kia Motors falling 2.86 percent.

Internet giant Naver dipped 2.41 percent, with its rival Kakao dropping 0.85 percent.

Top pharmaceutical company Samsung Biologics spiked 5.47 percent on expectations of an expanded capacity. Samsung C&T, a large shareholder of Samsung Biologics, also hiked 4.07 percent.

Leading steelmaker POSCO shed 1.21 percent.

The local currency was trading at 1,186.35 won against the U.S. dollar, down 0.75 won from the previous session's close.


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