South Korean stocks closed lower on Monday as investors took a wait-and-see approach ahead of the release of a series of U.S. economic data this week, analysts said.

The Korean won closed lower against the greenback.

The benchmark Korea Composite Stock Price Index shed 8.78 points, or 0.45 percent, to 1,949.05. Trading volume was low at 191.3 million shares worth 2.86 trillion won ($2.66 billion), with losers outpacing gainers 454 to 337.

Analysts said Seoul shares closed sluggish as investors wait for the U.S. housing data and fourth-quarter gross domestic product figures scheduled to be released later this week.

“Shares are trading in a tight range on the local stock market, due mainly to investors taking a breather, as the economic outlook also remains bleak,” said Ma Joo-ok, a researcher at Kiwoom Securities Co.

Foreigners offloaded a net 437 million won, while individual investors scooped up a net 62.2 billion won. Institutions sold more shares than they bought at 61.3 billion won.

Logistics firms closed lower, with Hyundai Glovis falling 0.67 percent to 222,500 won and Hyundai Merchant Marine losing 1.79 percent to 13,700 won. CJ Korea Express closed unchanged at 112,000 won.

Carmakers also led the market fall, with Hyundai Motor down 0.22 percent to 227,500 won and its auto parts affiliate Hyundai Mobis losing 0.32 percent to 311,500 won. Kia Motors edged down 1.5 percent to 52,700 won.

Tech shares traded mixed, with Samsung Electronics sliding 0.15 percent to 1,328,000 won and flat panel maker LG Display closing unchanged at 25,900 won. LG Electronics climbed 0.49 percent to 61,400 won.

Mobile carriers also closed mixed, with top SK Telecom rising 0.48 percent to 210,500 won while its smaller rival KT lost 0.85 percent to 29,100 won. LG Uplus, the smallest player, shed 0.96 percent to 10,350 won.

The local currency ended at 1,074.50 won to the U.S. dollar, down 2.40 won from Friday’s close. (Yonhap)