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Seoul Shares Decline as Samsung Electronics Hits Four-Year Low.

Seoul: South Korean stocks extended losses late Wednesday morning as the top market cap Samsung Electronics crashed to the lowest level in more than four years amid market uncertainties. The benchmark Korea Composite Stock Price Index had fallen 34.9 points, or 1.41 percent, to 2,447.67 as of 11:20 a.m. According to Yonhap News Agency, top tech giant Samsung Electronics fell 2.26 percent to 51,800 won. Earlier in the session, Samsung reached 51,700 won, marking the lowest level since 51,600 won posted in June of 2020. Leading battery maker LG Energy Solution also dropped 3.16 percent. Carmakers traded weaker as well, with Hyundai Motor falling 2.66 percent and its sister Kia losing 1.41 percent. Auto parts maker Hyundai Mobis remained unchanged. The local currency was trading at 1,406.4 won against the U.S. dollar as of 11:20 a.m., down 2.9 won from the previous session.

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