SEOUL– South Korean stocks extended losses late Monday morning as investors remain cautious about the resurgence of new coronavirus cases in the country.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 11.84 points, or 0.36 percent, to 3,242.58 points as of 11:20 a.m.
Stocks retreated after a two-day gain, as the spiking cases sapped demand for risky assets.
On Friday, the government extended the highest Level 4 quarantine measures in the Seoul metropolitan area for another two weeks through Aug. 8, and non-metropolitan areas will be placed under the second-toughest virus curbs Tuesday for two weeks.
Bio stocks advanced in Seoul, while most other large caps traded lower.
Market kingpin Samsung Electronics lost 0.5 percent, and No. 2 chipmaker SK hynix retreated 0.42 percent.
Top pharmaceutical firm Samsung Biologics gained 2.58 percent, while leading carmaker Hyundai Motor traded flat.
Internet portal giant Naver edged up 0.11 percent, and giant chemical maker LG Chem declined 1.33 percent. Secondary battery maker Samsung SDI shed 0.93 percent.
The local currency was trading at 1,153.2 won to the U.S. dollar, down 2.4 won from the previous session’s close.
Source: Yonhap News Agency