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S. Korean shares up late Wed. morning amid U.S. election vote count

All News 11:31 November 04, 2020

SEOUL, Nov. 4 (Yonhap) -- South Korean shares traded higher late Wednesday morning as investors cautiously keep a watchful eye on the results of the U.S. presidential election.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 9.6 points, or 0.41 percent, to 2,352.91 as of 11:20 a.m.

The local market gathered ground after a weak start as investors awaited results of the U.S presidential election.

Analysts have said stock markets favor Democratic nominee Joe Biden as his win could clear up uncertainties surrounding a fresh stimulus deal that has lagged amid differences between Democrats and the White House.

In Seoul, most large caps traded higher.

Pharmaceutical giant Samsung Biologics jumped 3 percent, and Celltrion rose 2.51 percent.

Market bellwether Samsung Electronics fell 0.85 percent, while No. 2 chipmaker SK hynix gained 0.61 percent.

Leading chemical firm LG Chem added 1.22 percent, and Hyundai Motor, the country's largest automaker, climbed 1.47 percent.

Internet portal giant Naver moved up 1.06 percent, and rival Kakao rose 2.08 percent.

The local currency was trading at 1,136.1 won against the U.S. dollar, down 2 won from the previous session's close.


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