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Seoul stocks turn lower late Tue. morning on virus resurgence

All News 11:35 October 13, 2020

SEOUL, Oct. 13 (Yonhap) -- South Korean stocks turned lower late Tuesday morning, as investors went risk-averse over the local resurgence of the new coronavirus.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 14.43 points, or 0.6 percent, to 2,389.3 as of 11:20 a.m.

The KOSPI fell back into negative terrain after opening a tad higher following the overnight Wall Street rally.

Investor sentiment worsened as the country's new COVID-19 infections bounced back to the triple digits, stoking fears that the pandemic may inflict more damage on the economy.

In Seoul, most large caps traded mixed.

Market kingpin Samsung Electronics rose 0.5 percent, but No. 2 chipmaker SK hynix retreated 0.7 percent.

Internet portal giant Naver gained 1.2 percent, and its rival Kakao edged up 0.13 percent.

Leading chemical maker LG Chem dipped 3.12 percent, with rechargeable battery maker Samsung SDI slipping 0.11 percent.

Top pharmaceutical firm Samsung Biologics traded flat, but Celltrion shed 1.1 percent.

The local currency was trading at 1,150.2 won to the U.S. dollar, down 3.4 won from the previous session's close.


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