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South Korean stocks closed 0.72 percent lower on Monday as investors stepped to the sidelines following last week's five-session winning streak, analysts said.
The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) dipped 13.96 points to 1,932.44. Trading volume was moderate at 348 million shares worth 3.1 trillion won ($2.7 billion), with decliners outnumbering gainers 418 to 385.
"Investors basically took a breather after the KOSPI's steep climb last week," said Kim Young-jun, an analyst at SK Securities Co.
"Meanwhile, a lack of policy measures following China's weaker-than- expected trade data last week also disappointed investors."
Blue-chip exporters led the decline. Market bellwether Samsung Electronics fell 1.71 percent to 1,325,000 won and LG Electronics slumped 2.65 percent to 66,100 won.
Oil refiners also closed bearish, with top player SK Innovation losing 2.38 percent to 164,000 won.
In contrast, food makers outperformed the main index, driven by recent product price hikes. Food giant CJ CheilJedang gained 2.5 percent to 307,000 won and major instant noodle maker Nongshim jumped 3.91 percent to 239,000 won.
Defensive shares limited losses with tobacco maker KT&G adding 1.43 percent to 85,100 won and top mobile carrier SK Telecom rising 2.41 percent to 149,000 won.
South Korea's top advertising agency Cheil Worldwide closed 3.8 percent higher at 19,100 won following an announcement that it has taken over a Chinese industry player.
The local currency ended at 1,131.1 won to the greenback, down 0.7 won from Friday's close amid the KOSPI's fall, dealers said.
Bond prices, which move inversely to yields, closed lower. The three-year Treasuries gained 0.03 percentage point to 2.82 percent and the return on the benchmark five-year government bonds also rose 0.03 percentage point to 2.93 percent.
(Yonhap News)
The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) dipped 13.96 points to 1,932.44. Trading volume was moderate at 348 million shares worth 3.1 trillion won ($2.7 billion), with decliners outnumbering gainers 418 to 385.
"Investors basically took a breather after the KOSPI's steep climb last week," said Kim Young-jun, an analyst at SK Securities Co.
"Meanwhile, a lack of policy measures following China's weaker-than- expected trade data last week also disappointed investors."
Blue-chip exporters led the decline. Market bellwether Samsung Electronics fell 1.71 percent to 1,325,000 won and LG Electronics slumped 2.65 percent to 66,100 won.
Oil refiners also closed bearish, with top player SK Innovation losing 2.38 percent to 164,000 won.
In contrast, food makers outperformed the main index, driven by recent product price hikes. Food giant CJ CheilJedang gained 2.5 percent to 307,000 won and major instant noodle maker Nongshim jumped 3.91 percent to 239,000 won.
Defensive shares limited losses with tobacco maker KT&G adding 1.43 percent to 85,100 won and top mobile carrier SK Telecom rising 2.41 percent to 149,000 won.
South Korea's top advertising agency Cheil Worldwide closed 3.8 percent higher at 19,100 won following an announcement that it has taken over a Chinese industry player.
The local currency ended at 1,131.1 won to the greenback, down 0.7 won from Friday's close amid the KOSPI's fall, dealers said.
Bond prices, which move inversely to yields, closed lower. The three-year Treasuries gained 0.03 percentage point to 2.82 percent and the return on the benchmark five-year government bonds also rose 0.03 percentage point to 2.93 percent.
(Yonhap News)
