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Seoul: Stocks end on a record high


[SEOUL] South Korean shares extended their rally on Friday to touch a record high on Samsung Electronics and SK Hynix surge and foreign buying, despite the virus spurt at home.

The benchmark Kospi ended up 35.23 points, or 1.31 per cent, at 2,731.45, extending gains to a fourth straight day.

Shares in the world's two largest memory chipmakers Samsung Electronics and SK Hynix surged as much as 3.4 per cent and 7.2 per cent, respectively, to their record highs, after rival Micron Technology's facility in Taiwan faced power outage and on continued optimistic sectoral outlook.

Foreigners were net buyers of US$707.70 million worth of shares on the main board.

South Korea's capital Seoul will require most establishments to close at 9 pm each day, acting Seoul mayor Seo Jeong-hyup told a briefing on Friday, as the country reported 629 new cases on Friday, the most since the first wave of infections in the country peaked in late February.


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