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Seoul stocks down late Thursday morning on lockdown concerns

All News 11:43 November 12, 2020

SEOUL, Nov. 12 (Yonhap) -- South Korean shares traded bearish late Thursday morning on growing lockdown concerns.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.48 points, or 0.34 percent, to 2,477.39 as of 11:20 a.m.

The KOSPI got off to a weak start after the benchmark index hit an over 2-year high the previous session over vaccine hopes.

Stocks continued to trade lower amid toughened COVID-19 quarantine measures in major economies.

South Korean authorities are also mulling stronger distancing guidelines, as local cases continued to rise by triple digits for a fifth day Thursday.

In Seoul, large caps traded mixed.

Market bellwether Samsung Electronics shed 0.49 percent, while No. 2 chipmaker SK hynix added 0.69 percent.

Leading chemical firm LG Chem edged up 0.14 percent, but rechargeable battery maker Samsung SDI lost 0.39 percent.

Pharmaceutical giant Samsung Biologics traded flat, and Celltrion retreated 1.35 percent.

Hyundai Motor, the country's largest carmaker, declined 0.28 percent.

Internet portal giant Naver rose 0.36 percent, and its rival Kakao climbed 0.7 percent.

The local currency was trading at 1,113.15 won against the U.S. dollar, down 3 won from the previous session's close.


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