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Seoul stocks trim gains late Fri. morning on tech, auto losses

All News 11:42 November 06, 2020

SEOUL, Nov. 6 (Yonhap) -- South Korean stocks trimmed most of their earlier gains late Friday morning on profit-taking, mostly led by tech and auto losses, amid the eased uncertainties over U.S. election results.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.42 points, or 0.02 percent, to 2,414.21 as of 11:20 a.m.

Trading turned choppy after a strong start, following a four-session winning streak.

Overnight, the tech-heavy Nasdaq composite jumped 2.59 percent, and both the Dow Jones Industrial Average and the S&P 500 advanced 1.95 percent.

Most large caps traded mixed in Seoul.

Market bellwether Samsung Electronics lost 0.83 percent, but No. 2 chipmaker SK hynix edged up 0.23 percent.

Pharmaceutical giant Samsung Biologics retreated 0.9 percent, while Celltrion gained 2.39 percent.

Leading chemical firm LG Chem spiked 6.06 percent, but Hyundai Motor, the country's largest carmaker, shed 1.43 percent.

Internet portal giant Naver climbed 0.5 percent, and its rival Kakao advanced 2.89 percent.

The local currency was trading at 1,126.15 won against the U.S. dollar, up 2.05 won from the previous session's close.


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