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Roundup: S. Korean shares end flat on mixed mood in Europe

Xinhua, January 26, 2015 Adjust font size:

South Korean shares ended almost unchanged Monday as a mixed picture was shown over Europe, where the region's central bank expanded stimulus measures while Greece' s anti-austerity party is set to take power.

The benchmark Korea Composite Stock Price Index (KOSPI) inched down 0.41 points, or 0.02 percent, to 1,935.68 at the close. Trading volume stood at 327.12 million shares worth 3.9 trillion won (3.6 billion U.S. dollars).

Greek opposition party Syriza won the election on Sunday, putting the European country's austerity programs into danger. It raised worries about possible discord between the so-called troika, including the European Central Bank (ECB), the European Union (EU) and the International Monetary Fund (IMF), and Greece.

The Syriza has objected to the fiscal austerity, which the troika has demanded in return for bailout funds.

Investors refrained from taking aggressive positions as the ECB 's decision to expand its asset-purchase program by at least 1.1 trillion euros(1.2 trillion U.S. dollars) relived worries about Greece.

Some has worried that the Greek election may trigger the Grexit, or Greek retreat from the euro zone, and spark volatility of the euro.

Foreigners reduced stock holdings by 101.6 billion won, marking the first selloff in five sessions. Local institutions sold shares worth 90.6 billion won, but retail investors were net buyers worth a net 72.4 billion won of stocks.

Large-cap shares ended mixed. Market bellwether Samsung Electronics inched up 0.2 percent, and memory chip giant SK Hynix gained 1.6 percent. Top wireless carrier SK Telecom advanced 2.3 percent, but the No.1 automaker Hyundai Motor slid 2.1 percent. The state-run monopoly power supplier Korea Electric Power Corp. lost 1 percent, and top steelmaker POSCO declined 2.5 percent.

The South Korean currency finished at 1,080.8 won against the greenback, up 3.3 won from Friday's close.

Bond prices ended higher. Yields on the liquid three-year treasury notes lost 0.3 basis points to 2.024 percent, and the return on the benchmark 10-year government bonds slid 2.9 basis points to 2.300 percent. Endi