Seoul stocks down late Wednesday morning on growing virus concerns

Seoul (South Korea), July 7: South Korean stocks traded lower late Wednesday morning as the country mulls stronger virus curbs after recording the highest daily COVID-19 caseload this year.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 21.0 points, or 0.64 percent, to trade at 3,284.21 points as of 11:20 a.m.
The main index got off to a weak start as investor sentiment was weighed down by virus concerns.
Health authorities earlier said new virus cases reached 1,212, the most since late December, amid growing cluster infections and rising delta variant cases.
The surge in new cases has forced authorities to extend the current virus restrictions in greater Seoul for another week, and the government warned further stronger measures may be adopted unless the situation shows signs of easing.
Market bellwether Samsung Electronics, which posted estimate-beating earnings projections, fell 0.86 percent, and No. 2 chipmaker SK hynix dropped 2 percent.
Leading chemical firm LG Chem shed 0.69 percent, and top automaker Hyundai Motor lost 1.48 percent.
Online messaging giant Kakao gained 2.22 percent, and internet portal operator Naver added 1.22 percent.
Pharmaceutical firm Samsung Biologics slipped 0.24 percent, while Celltrion edged up 0.19 percent.
The local currency was trading at 1,136.2 won against the U.S. dollar, down 6.5 won from the previous session's close.
Source: Yonhap