South Korean stocks closed 0.7 percent lower as investors sat on the sidelines amid economic uncertainties from China and the eurozone, analysts said. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 14.25 points to finish at 2,025.17. Trading volume was light at 232.4 million shares worth 3.48 trillion won ($3.28 billion) with losers outpacing gainers 496 to 306.
Analysts said Seoul shares closed lower as economic uncertainties stemming from the eurozone and China weighed down on investors' sentiment.
"The eurozone's weak data, including its jobs data, sparked a depreciation of the euro against the greenback, which also dealt a blow to the local stock market," said Han Beom-ho, an analyst at Shinhan Investment Corp.
"Foreigners, which have been scooping up local shares on (the country's) abundant global liquidity and signs of an economic improvement, are also taking a breather (amid the weak eurozone and Chinese economy)," Han added.
Analysts added that investors also took a wait-and-see approach on Beijing's policy-setting meeting slated for Nov. 9-12, during which the world's No. 2 economy is expected to roll out reform measures to tighten the economy to tackle inflation.
Overseas investors sold more shares than they bought at a net 182.1 billion won, while retail and institutional investors scooped up a net 148.1 billion won and 40.3 billion won, respectively.
Woori Finance Holdings, South Korea's top banking group, fell 1.21 percent to 12,200 won after the firm announced its third-quarter earnings tumbled 83.6 percent on-year on squeezed profit margin.
Mobile carriers also traded lower, with leading SK Telecom falling 0.86 percent to 231,500 won and No. 2 player KT losing 2.27 percent to 34,400 won. LG Uplus, the smallest player, shed 2.5 percent to 11,700 won.
Carmakers closed bearish with Hyundai Motor moving down 2.36 percent to 248,000 won and its smaller affiliate Kia Motors decreasing 1.46 percent. Top auto parts maker Hyundai Mobis shed 0.17 percent.
Tech shares closed mixed, with market behemoth Samsung Electronics falling 0.07 percent to 1,499,000 won while its smaller rival LG Electronics gained 1.03 percent to 68,900 won. Top chipmaker SK hynix lost 0.6 percent to 33,050 won.
The local currency ended at 1,062.90 won against the greenback, down 2.20 won from the previous trading session, dealers said. (Yonhap News)
