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Seoul stocks extend gains late Thur. morning on bargain hunting

Stocks 11:29 March 25, 2021

SEOUL, March 25 (Yonhap) -- South Korean stocks traded higher late Thursday morning after four days of losses as investors bought undervalued shares on expectations of a rebound.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.78 points, or 0.63 percent, to 3,015.13 points as of 11:20 a.m.

Stocks rebounded although North Korea launched two projectiles into the East Sea.

Market kingpin Samsung Electronics advanced 1.11 percent, and No. 2 chipmaker SK hynix traded flat.

Top automaker Hyundai Motor retreated 1.13 percent, but leading chemical firm LG Chem added 0.89 percent.

Pharmaceutical giant Samsung Biologics moved up 1.26 percent, with Celltrion climbing 1 percent.

The local currency was trading at 1,132.35 won to the U.S. dollar, up 1.25 won from the previous session's close.


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