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Seoul stocks bullish late Tue. morning on earnings hope

All News 11:31 October 26, 2021

SEOUL, Oct. 26 (Yonhap) -- South Korean stocks traded bullish late Tuesday morning, led by expectations for strong corporate earnings.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 19.82 points, or 0.66 percent, to 3,040.36 as of 11:20 a.m.

Stocks started strong, tracking overnight gains on Wall Street that stemmed from expectations of good corporate earnings.

Overnight, the tech-heavy Nasdaq composite added 0.9 percent, and the Dow Jones Industrial Average gained 0.18 percent.

Bio, bank and tech advances led the market advance.

Market bellwether Samsung Electronics added 0.71 percent to 70,700 won, and No. 2 chipmaker SK hynix jumped 3 percent to 103,000 won on robust third-quarter earnings.

Leading car battery firm LG Chem increased 1.83 percent to 836,000 won, and pharmaceutical giant Samsung Biologics gained 0.46 percent to 881,000 won.

Hyundai Motor, the country's largest carmaker, declined 0.47 percent to 210,000 won.

The local currency was trading at 1,164.45 won against the U.S. dollar, up 3.95 won from the previous session's close.


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