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Seoul stocks trim gains late Thursday morning

All News 11:37 September 10, 2020

SEOUL, Sept. 10 (Yonhap) -- South Korean shares erased some earlier gains late Thursday morning after a strong start tracking an overnight Wall Street rebound.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 17.95 points, or 0.76 percent, to 2,393.77 as of 11:20 a.m.

The index hovered around the 2,400-point mark, after a 1.09 percent fall the previous session.

Tech shares advanced, taking a cue from a rebound in U.S. tech heavyweights.

The tech-laden Nasdaq composite rose 293.87 points, or 2.71 percent, to 11,141.56 on Wednesday (New York time). The Dow Jones Industrial Average gained 2.6 percent, with the S&P 500 up 2.01 percent.

Large caps traded mixed in Seoul.

Market bellwether Samsung Electronics added 1.88 percent, but No. 2 chipmaker SK hynix lost 0.52 percent.

Internet portal giant Naver climbed 0.33 percent, with its rival Kakao up 0.26 percent.

Leading chemical maker LG Chem gained 0.43 percent, but rechargeable battery maker Samsung SDI slid 0.23 percent.

Top pharmaceutical firm Samsung Biologics advanced 0.53 percent, while Celltrion retreated 0.84 percent.

Hyundai Motor, the country's largest automaker, rose 0.3 percent, and top steelmaker POSCO added 0.27 percent.

The local currency was trading at 1,186.25 won against the U.S. dollar, up 2.85 won from the previous session's close.


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