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South Korean coronavirus test kit makers surge on US request

Seegene and Sugentech shares hit upper limit as Trump seeks supplies

The U.S. is reaching out to South Korea for medical supplies to fight the coronavirus outbreak.   © Reuters

SEOUL -- Shares of South Korea's coronavirus test kit makers rose sharply on Wednesday on the expectation that they will export the medical device to the U.S. after President Donald Trump reached out to Seoul for supplies.

Seoul-based drug maker Seegen jumped 29.9% to 88,100 won, hitting the daily upper price limit and marking a record high for the company. Daejeon-based bio firm Sugentech saw its shares spike 29.9% to 21,250 won, reaching its 16-month high.

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