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Seoul shares up late Thursday morning

11:29 January 16, 2020

SEOUL, Jan. 16 (Yonhap) -- South Korean shares traded higher late Thursday morning, recouping earlier losses, on the back of tech gains.

The benchmark Korea Composite Stock Price Index (KOSPI) was up 7.63 points, or 0.34 percent, to 2,238.61 as of 11:20 a.m.

The index initially opened mildly lower despite the overnight signing of the long-awaited preliminary trade agreement between the United States and China.

In Seoul, blue chips were mixed.

Tech companies were bullish, with market kingpin Samsung Electronics gaining 1.53 percent and SK hynix, a major chipmaker, moving up 0.71 percent after opening lower.

No. 1 carmaker Hyundai Motor increased 3.04 percent, and pharmaceutical giant Celltrion jumped 5.38 percent.

In contrast, the country's top portal operator, Naver, lost 0.52 percent, and No. 1 chemical firm LG Chem shed 0.61 percent.

The local currency was trading at 1,160.1 won against the U.S. dollar as of 11:20 a.m., down 3.1 won from Wednesday's close.

khj@yna.co.kr
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