Seoul shares extend gains late morning on logistics, tech issue rises

SEOUL, Nov. 8 (Yonhap) -- South Korean stocks traded 0.81 percent higher late Tuesday morning, buoyed by gains in large-cap logistics and IT service companies.

The benchmark Korea Composite Stock Price Index (KOSPI) had gained 19.27 points to 2,391.06 as of 11:20 a.m.

Container shipper HMM jumped more than 3 percent, and Hyundai Glovis, the logistics unit of Hyundai Motor Group, rose nearly 3.5 percent.

Internet portal operator Naver jumped more than 5 percent, with platform giant Kakao climbing about 2.9 percent.

Market heavyweight Samsung Electronics was also up 2.2 percent, and chipmaker SK hynix advanced 2.5 percent.

Foodmakers trended in negative terrain. Industry leader CJ Cheiljedang fell 0.9 percent, and Samyang Foods slid 2.7 percent.

Chemical companies also fell. POSCO Chemical lost 1.9 percent, with LG Chem retreating 2 percent.

The local currency was changing hands at 1,389.00 won against the greenback as of 11:20 a.m., up 12.2 won from Monday's close.

elly@yna.co.kr
(END)