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Seoul stocks extend losses late Fri. morning on COVID-19 jitters

All News 11:33 October 16, 2020

SEOUL, Oct. 16 (Yonhap) -- South Korean shares widened losses late Friday morning, as a resurgence of the new coronavirus stoked concerns over hopes of a global economic recovery.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 13.53 points, or 0.57 percent, to 2,347.68 as of 11:20 a.m.

Stocks traded bearish after the KOSPI fell for a third consecutive day the previous session.

Losses in tech and auto heavyweights led the KOSPI's retreat, tracking overnight Wall Street losses that stemmed from a continued hike in new COVID-19 infections.

The Dow Jones Industrial Average went down 0.07 percent to close at 28,494.2 on Thursday (New York time), with the Nasdaq Composite and the S&P 500 dipping 0.47 percent and 0.15 percent, respectively.

Samsung Electronics lost 0.33 percent, with No. 2 chipmaker SK hynix dipping 1.03 percent.

Pharmaceutical firm Samsung BioLogics retreated 2.13 percent, but leading chemical maker LG Chem climbed 0.16 percent.

The country's largest automaker, Hyundai Motor, dropped 2.56 percent, but internet portal giant Naver gained 0.34 percent.

Big Hit Entertainment, the management agency of K-pop phenoms BTS, plunged 17.44 percent on the second day of trading.

The local currency was trading at 1,146.6 won against the U.S. dollar, down 3.4 won from the previous session's close.

jwc@yna.co.kr
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