Seoul stocks trade lower amid virus concerns

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

The Korea Composite Stock Price Index fell 1.74 points, or 0.07 percent, to 2,624.17 as of 11:20 a.m.

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

South Korea's new daily COVID-19 cases exceeded 500 for the second straight day Friday.

Large caps traded mixed in Seoul.

Market behemoth Samsung Electronics slipped 0.15 percent, with No. 2 chipmaker SK hynix retreating 0.91 percent.

Top automaker Hyundai Motor advanced 0.84, while leading chemical company LG Chem shed 0.98 percent.

Pharmaceutical giant Samsung Biologics edged up 0.13 percent, and Celltrion added 1.21 percent.

Internet giant Naver and its rival Kakao both declined 0.53 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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