Roundup: S.Korean shares end flat after growth outlook cut

South Korean shares closed almost unchanged on Thursday as Bank of Korea (BOK) revised down its 2015 growth outlook by 0.5 percentage points.

The benchmark Korea Composite Stock Price Index (KOSPI) inched up 0.48 points, or 0.03 percent, to 1,914.14 at the close. Trading volume stood at 263.29 million shares worth 3.77 trillion won (3. 48 billion U.S. dollars).

The BOK cut its 2015 growth outlook to 3.4 percent from an earlier forecast of 3.9 percent after freezing its policy rate at a record low of 2 percent for three straight months.

The revised outlook was much lower than the government's growth forecast of 3.8 percent.

The sharper-than-expected downward revision propped up expectations for further rate cuts. The bank lowered its benchmark interest rate by 25 basis points in August and October each last year.

BOK Governor Lee Ju-yeol told a press conference that the current policy rate is enough to bolster the economy, but he said that if there emerges a change in the future growth path, an alteration in the rate would be made.

Foreigners reduced stock holdings by 211.3 billion won, keeping a selling spree for four straight days. Retail and institutional investors bought shares worth 28.7 billion won and 47.6 billion won each.

Large-cap shares ended mixed. Market bellwether Samsung Electronics declined 0.8 percent, and top automaker Hyundai Motor slid 1.7 percent. The biggest life insurer Samsung Life Insurance lost 3.4 percent, but memory chip giant SK Hynix rose 1.2 percent. The No.1 auto parts maker Hyundai Mobis gained 1.6 percent, and top mobile operator SK Telecom advanced 1.7 percent.

The South Korean currency finished at 1,083.3 won against the greenback, down 1.1 won from Wednesday's close.

Bond prices ended lower. Yields on the liquid three-year treasury notes jumped 7 basis points to 2.044 percent, and the return on the benchmark 10-year government bonds soared 8.1 basis points to 2.45 percent. Endi