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S. Korean shares up 0.73 pct in late morning

2018/02/14 11:34

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SEOUL, Feb. 14 (Yonhap) -- South Korean stocks rose late Wednesday morning as Wall Street extended gains for a third straight session following last week's slump, boosting investor sentiment.

The benchmark Korea Composite Stock Price Index advanced 17.68 points, or 0.74 percent, to 2,412.82 as of 11:20 a.m.

Most market heavyweights rose across the board.

Market kingpin Samsung Electronics Co. gained 2.9 percent, and SK hynix, a memory chip giant, increased 0.9 percent.

Celltrion, a major pharmaceutical firm, jumped 5.1 percent, after the company said its biosimilar received EU approval for treatment of early breast cancer.

In contrast, Lotte Group shares were down after its chairman Shin Dong-bin was sentenced to 30 months in prison for bribery charges on Tuesday.

Lotte Corp., the holding firm of the South Korean retail giant, dropped 6.02 percent, and Lotte Shopping retreated 1.14 percent.

Korea Electric Power Corp., the state-run power provider, declined 2.69 percent to extend earlier losses after posting weak fourth-quarter operating earnings on Tuesday.

The local currency was trading at 1,083.5 won against the U.S. dollar, up 1 won from the previous session's close.