Shares down 0.19% on renewed eurozone woes

South Korean stocks ended 0.19 percent lower Monday as investors’ expectations for an economic recovery in the eurozone lost momentum, analysts said. The South Korean won gained against the U.S. dollar.

The benchmark Korea Composite Stock Price Index fell 3.75 points to 1,920.95. Trading volume was moderate at 301.44 million shares worth 3.48 trillion won ($3.22 billion), with gainers beating decliners 434 to 371.

Analysts said investors’ prospects for a turnaround in the European economy died down after having pushed up prices until last week.

“The index is now taking a break from its upward spiral seen in the past three trading sessions, which had been initially buoyed by anticipations for an economic recovery in the eurozone,” said Kang Hyun-gie, an analyst from I’M Investment & Securities Co.

Analysts had predicted the eurozone economy would pick up its pace on the back of a possible bond-buying scheme by the European Central Bank, which helped to pull up market expectations until the previous trading session. (Yonhap)