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Seoul stocks swing to losses late Tue. morning

All News 11:34 August 03, 2021

SEOUL, Aug. 3 (Yonhap) -- South Korean stocks swung to losses late Tuesday morning as trading turned choppy amid institutional and retail sell-offs.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 9.35 points, or 0.29 percent, to trade at 3,213.69 as of 11:28 a.m.

Stocks got off to a solid start as tech heavyweights jumped on expectations for robust global demand.

The stock index trimmed its earlier gains, however, as institutions turned to net-selling, tracking overall losses by its Asian stock peers, including Japan, China and Hong Kong.

In Seoul, market kingpin Samsung Electronics rose 1.77 percent, and No. 2 chipmaker SK hynix advanced 2.59 percent.

Giant pharmaceutical firm Samsung Biologics lost 0.77 percent, but battery maker Samsung SDI edged up 0.13 percent. Internet portal operator Naver declined 2.42 percent.

Top automaker Hyundai Motor decreased 0.68 percent, with leading chemical firm LG Chem trading flat.

The local currency was trading at 1,152.4 won against the U.S. dollar, down 1.5 won from the previous session's close.


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