Seoul stocks open nearly flat on virus concerns

SEOUL, Nov. 27 (Yonhap) -- South Korean stocks opened nearly flat Friday after the benchmark index hit an all-time high the previous session amid the soaring new coronavirus cases.

The Korea Composite Stock Price Index rose 0.37 point, or 0.01 percent, to 2,626.28 in the first 15 minutes of trading.

Stocks got off to a muted start, as soaring COVID-19 cases and valuation pressure left investors questioning the index's short-term peak.

Large caps traded mixed in Seoul.

Market behemoth Samsung Electronics added 0.44 percent, with No. 2 chipmaker SK hynix gaining 0.3 percent.

Top automaker Hyundai Motor traded flat, while leading chemical company LG Chem shed 1.72 percent.

Pharmaceutical giant Samsung Biologics advanced 0.63 percent, and Celltrion added 0.91 percent.

Internet giant Naver traded flat, but its rival Kakao edged up 0.27 percent.

The local currency was trading at 1,105.05 won against the U.S. dollar, down 0.45 won from the previous session's close.

jwc@yna.co.kr
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