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Roundup: S.Korean shares end flat on lack of momentum

Xinhua, April 27, 2015 Adjust font size:

South Korean shares ended almost unchanged Monday, after swinging between gains and losses, amid lack of momentum to sharply move stocks up or down.

The benchmark Korea Composite Stock Price Index (KOSPI) inched down 2.26 points, or 0.1 percent, to 2,157.54 at the close. Trading volume stood at 388.66 million shares worth 6.12 trillion won (5.7 billion U.S. dollars).

Little progress was made last weekend on negotiations for Greece bailout, but it has a limited impact on the local stocks.

Wall Street gained ground last week, with the tech-heavy NASDAQ keeping a record-breaking trend, but it also had little impact on the KOSPI movement.

The KOSPI moved in a narrow range, fluctuating between gains and losses, as there is no momentum to sharply pull stocks up or down.

Market watchers said that the KOSPI could maintain an upward trend for the time being amid an ample liquidity from quantitative easing in Europe and the record-low interest rate by the Bank of Korea (BOK).

Foreigners raised stock holdings by 203 billion won, keeping a buying trend for 15 straight sessions. Institutional investors sold stocks worth 241 billion won, but retail investors bought shares worth 31 billion won.

Large-cap shares ended mixed. Market bellwether Samsung Electronics lost 1.1 percent to settle at 1,395,000 won, falling below the 1.4-million-won level in about two months.

Memory chip giant SK Hynix declined 3 percent, and the biggest auto parts maker Hyundai Mobis fell 3.6 percent. Naver, the most- used search engine, gained 2.6 percent, and the No.1 mobile operator SK Telecom advanced 1.2 percent.

The South Korean currency finished at 1,073.0 won against the greenback, up 6.4 won from Friday's close.

Bond prices ended lower. Yields on the liquid three-year treasury notes rose 1.5 basis points to 1.786 percent, and the return on the benchmark 10-year government bonds added 0.5 basis point to 2.290 percent. Endi