SEOUL: South Korean stocks finished lower on Wednesday due to overnight falls on Wall Street and anticipation of a key ECB meeting later this week, analysts said. The South Korean won fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index 3.09 gave up points, or 0.15 percent, to 1,998.29. Trading volume was moderate at 369 million shares worth 4.59 trillion won ($4.18 billion), with losers beating gainers 370 to 431.
“There are growing hopes for an additional monetary expansion, but there are still questions over whether such a move will address a slowdown in emerging economies and low prices,” said Choe Seung-yon, an analyst at Taurus Investment & Securities.
U.S. stocks fell from their record highs on Tuesday on doubts over the health of the world’s largest economy.
The European Central Bank will hold a policy meeting on Thursday and is expected to unveil further details of its bond-purchasing program due to be launched this month.
Shipbuilders, utility firms and some defensive stocks gathered ground, while autos, oil refiners and financial shares ended lower.
Hyundai Heavy Industries, the world’s top shipbuilder, rose 2.37 percent to end at 129,500 won, and state-run utility giant Korea Electric Power Corp. rose 1.46 percent to end at 45,250 won.
Market bellwether Samsung Electronics, also the nation’s top tech firm, gained 1.34 per.
