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Seoul stocks expand losses late Wed. morning after 6-day winning streak

Stocks 11:25 April 21, 2021

SEOUL, April 21 (Yonhap) -- South Korean stocks expanded their losses late Wednesday morning amid increased valuation pressure, following the benchmark stock index's six-day winning streak.

The Korea Composite Stock Price Index (KOSPI) fell 47.78 points, or 1.48 percent, to 3,172.92 points as of 11:20 a.m.

The KOSPI quickly fell through the 3,200-point mark with the opening bell as foreign and individual investors sold stocks to lock in gains.

The stock index gained for the past six days until Tuesday amid expectations of a global economic rebound and better earnings reports in the January-March season.

Market kingpin Samsung Electronics shed 1.43 percent, and No. 2 chipmaker SK hynix retreated 2.53 percent.

Internet portal giant Naver declined 2.05 percent, with its rival Kakao decreasing 1.67 percent. Leading carmaker Hyundai Motor lost 1.53 percent.

Giant chemical maker LG Chem fell 2.58 percent, and top pharmaceutical firm Samsung Biologics dropped 1.91 percent.

The local currency was trading at 1,117.7 won to the U.S. dollar as of 11:20 a.m., down 5.4 won from the previous session's close.


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