South Korean stocks fell 0.32 percent Monday as investors took a wait-and-see approach on the United States Federal Open Market Committee (FOMC) meeting slated for this week, analysts said. The local currency gained against the U.S. dollar.
   
The benchmark Korea Composite Stock Price Index (KOSPI) shed 6.14 points to close at 1,883.10. Trading volume was low at 258.6million shares worth 3.19 trillion won (US$2.83 billion) with losers outpacing gainers 594 to 221.
   
On Thursday, the index fell below the 1,900-point mark for the first time since Nov. 22, 2012 to close at 1,882.73.    

"Investors sat on the sidelines as they eyed on the FOMC's decision on the U.S. economic stimulus measures," said Lim Soo-kyun, a researcher at Samsung Securities Co.
   
Market watchers said the International Monetary Fund (IMF)'s decision to lower the U.S. economic growth outlook for 2014 to 2.7 percent from the previous estimate of 3 percent also weighed down on investors' sentiment.
   
Foreigners offloaded 64.2 billion won worth of local equities, marking the seventh straight session of a selling spree. Retail investors sold a net 62.6 billion won, while institutional investors scooped up a net 132.8 billion won.
   
GS Engineering & Construction fell 4.56 percent to 29,300 won after the country's financial watchdog said it may open a special audit on the builder for fraudulent accounting.
   
Other builders also closed bearish, with Daelim Industrial losing 1.39 percent to 91,900 won and Hyundai Engineering & Construction declining 1 percent to 59,600 won.
   
Tech shares also lost ground, with market behemoth Samsung Electronics losing 0.22 percent to 1,366,000 won and top chipmaker SK hynix moving down 3.33 percent to 30,450 won.
   
In contrast, Hyundai Merchant Marine, the top shareholder of Hyundai Asan, the operator of tours to the North's Mount Kumgang, gained 14.79 percent to 14,750 won after North Korea proposed high-level talks with the U.S on Sunday.
   
Kumho Investment Bank moved up by its daily permissible limit of 14.6 percent to 1,005 won as Woori Finance Holdings, the biggest finance group by asset, decided to acquire shares in the company.    Carmakers closed mixed, with Kia Motors adding 0.18 percent to 57,100 won and top auto parts maker Hyundai Mobis climbing 1.54 percent to 263,000 won. No. 1 industry player Hyundai Motor closed flat at 197,000 won.
   
The local currency ended at 1,126.20 won against the greenback, up 0.30 won from Friday's close, due mainly to exporters offloading the greenback for settlements, dealers said. (Yonhap News)