South Korean stocks ended lower Monday as individual investors dumped large-cap shares amid worries over political instability in the United States, analysts said. The South Korean won fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.48 points, or 0.31 percent, to close at 2,055.01. Trade volume was light at 280.6 million shares worth 3.8 trillion won (US$3.4 billion), with losers outnumbering gainers 538 to 285.
Individuals offloaded a net 267.5 billion won worth of local equities, while institutions and foreigners were net buyers, snatching up 249.1 billion won and 6.3 billion won worth of shares, respectively.
U.S. stocks ended sharply lower on Friday, with the S&P 500 slipping 2.1 percent and the Dow Jones industrial average dropping 1.8 percent. The tech-rich Nasdaq Composite Index tumbled 3 percent.
On Saturday the U.S. federal government was partially shut down after Democrats rejected President Donald Trump's demands for $5 billion in funding for the construction of a wall along the border with Mexico, with his aides hinting that the shutdown will continue until January.
"The local stock market closed lower, tracking losses in the United States ahead of Christmas holiday," Lee Young-gon, an analyst at Hana Financial Investment Co., said.
Most large caps closed mixed, with medical stocks pulling down the KOSPI.
Samsung BioLogics, a biopharmaceutical affiliate of Samsung Group, lost 0.43 percent to end at 348,500 won. Shares of leading biosimilar manufacturer Celltrion also was down 4.32 percent at 210,500 won to continue a three-day losing streak.
Top cap Samsung Electronics ended at 38,800 won, up 0.39 percent from the previous session's close and global chipmaker SK hynix gained 0.67 percent to 60,400 won.
The local currency closed at 1,125.2 won against the greenback, down 2.8 won from the previous session's close.
Bond prices, which move inversely to yields, fell. The yield on three-year Treasurys gained 0.8 point to 1.846 percent, and the return on benchmark five-year government bonds increased 1 basis point to 1.903 percent. (yonhap)