SEOUL: South Korean stocks closed slightly lower Friday as investors remained jittery over the U.S. job market and the Greek debt crisis, analysts said. The South Korean won edged up against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 5.48 points, or 0.26 percent, to 2,085.52. Trading volume was moderate at 305.5 million shares worth 4.68 trillion won (US$4.3 billion), with gainers outpacing losers 531 to 279.
Analysts said Seoul shares finished bearish as investors were concerned over whether the International Monetary Fund will lend support to Greece to pull out of financial trouble.
Investor sentiment was also dampened by expectations that the United States will likely announce weaker-than-expected April jobs data, they added.
“The KOSPI fell sharply for the past few days, leading to the market’s limited decline,” said Lim Noh-jung, an analyst from I’M Investment & Securities Co. “However, investors still remained concerned over the U.S. job data, and the fate of Greece’s debt problems.”
