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Seoul stocks take downward turn late Thur. morning on bio, tech losses

All News 11:36 August 05, 2021

SEOUL, Aug. 5 (Yonhap) -- South Korean stocks swung to losses late Thursday morning as bio and tech large caps erased part of their earlier gains.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 1.35 points, or 0.04 percent, to trade at 3,279.03 as of 11:20 a.m.

The KOSPI got off to a solid start on strong advances by bio heavyweights, as the country's daily new coronavirus cases spiked back to the 1,700s despite the toughest-ever virus restrictions.

The stock index lost ground in the late morning as investors took to lock in profit from recent gains.

Giant pharmaceutical firm Samsung Biologics jumped 1.88 percent, with Celltrion advancing 0.56 percent.

Market kingpin Samsung Electronics edged down 0.6 percent, and No. 2 chipmaker SK hynix retreated 2.07 percent.

Internet portal operator Naver climbed 2.19 percent, with battery maker Samsung SDI gaining 1.61 percent.

Top automaker Hyundai Motor decreased 0.89 percent, but leading chemical firm LG Chem gained 0.35 percent.

The local currency was trading at 1,143.9 won against the U.S. dollar, down 0.3 won from the previous session's close.


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