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Seoul stocks expand gains late Tue. morning on earnings hope

All News 11:29 April 20, 2021

SEOUL, April 20 (Yonhap) -- South Korean stocks expanded gains late Tuesday morning amid speculation of a global economic rebound and strong corporate earnings in the first quarter.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.9 points, or 0.34 percent, to 3,209.74 points as of 11:20 a.m.

Stocks traded bullish despite increased valuation pressure after the six-day winning streak, as brokerages projected strong quarterly performances by local big-name companies.

Financial and transport shares led the KOSPI's gain, while bio slowed from the progress in the local vaccine rollout and the fall in daily new coronavirus cases.

Market kingpin Samsung Electronics increased 0.36 percent, while No. 2 chipmaker SK hynix and internet portal giant Naver traded flat.

Leading carmaker Hyundai Motor edged down 0.22 percent, and chemical maker LG Chem climbed 0.34 percent. Top pharmaceutical firm Samsung Biologics gained 0.24 percent, but Celltrion dipped 2.58 percent.

The local currency was trading at 1,114.2 won to the U.S. dollar as of 11:20 a.m., up 3 won from the previous session's close.

jwc@yna.co.kr
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