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Seoul stocks extend gains late Mon. morning on bargain hunting

11:33 October 19, 2020

SEOUL, Oct. 19 (Yonhap) -- South Korean stocks extended gains late Monday morning on investors' bargain hunting rush following a plunge for four straight days.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 17.89 points, or 0.76 percent, to 2,359.42 as of 11:20 a.m.

Stocks gained on strong institutional buying, led by gains in tech and bio firms.

Investor sentiment remained high amid hopes for earnings improvement in the July-September period, analysts said.

Large caps traded mixed.

Top market cap Samsung Electronics added 0.84 percent, and No. 2 chipmaker SK hynix jumped 2.7 percent.

Giant pharmaceutical firm Samsung Biologics rose 0.73 percent, and Celltrion climbed 0.97 percent.

Internet portal giant Naver slipped 0.17 percent, and leading chemical maker LG Chem dipped 2.81 percent.

Hyundai Motor, the country's largest automaker, retreated 1.74 percent, and top steelmaker POSCO spiked 3.22 percent.

The local currency was trading at 1,142.55 won against the U.S. dollar, up 4.85 won from the previous session's close.

jwc@yna.co.kr
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