Shares fall on eurozone uncertainties

Seoul shares fell 0.71 percent on Friday in the face of rising European uncertainties ahead of Greece’s critical elections and mixed U.S. economic data, analysts said.

The local currency rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index moved down 13.32 points to 1,858.16 after a choppy session. Trading volume was light at 4.26 million shares worth 4.46 trillion won ($3.83 billion), with losers outpacing gainers 486 to 344.

“Investor sentiment was dented by mounting eurozone uncertainties, weaker than expected U.S. economic data and possibility of stimulus programs,” said Lee Sang-jae, a senior economist at Hyundai Securities.

Greece’s election, slated for Sunday, and how the European Union handles Spain’s bailout program will determine the fate of the 17-member monetary union that can impact the global economy, he said. (Yonhap News)