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Seoul stocks open lower on profit-taking, lockdown concerns

All News 09:26 November 12, 2020

SEOUL, Nov. 12 (Yonhap) -- South Korean shares opened lower Thursday on profit-taking, after the benchmark index hit an over 2-year high the previous session over vaccine hopes.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.48 points, or 0.34 percent, to 2,477.39 in the first 15 minutes of trading.

Chip, auto and bio heavyweights retreated after a big advance the previous session amid toughened COVID-19 quarantine measures in major economies.

Overnight, the Nasdaq Composite jumped 2.01 percent to 11,786.43 points, while the Dow Jones Industrial Average slipped 0.08 percent.

In Seoul, large caps traded mixed.

Market bellwether Samsung Electronics shed 0.49 percent, while No. 2 chipmaker SK hynix added 0.34 percent.

Leading chemical firm LG Chem gained 2.17 percent, and rechargeable battery maker Samsung SDI advanced 0.98 percent.

Pharmaceutical giant Samsung Biologics lost 0.79 percent, and Celltrion retreated 1.85 percent.

Hyundai Motor, the country's largest carmaker, declined 0.57 percent.

Internet portal giant Naver rose 1.43 percent, and its rival Kakao climbed 1.27 percent.

The local currency was trading at 1,112.15 won against the U.S. dollar, down 2.15 won from the previous session's close.

jwc@yna.co.kr
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