S. Korean shares fall on tighter property rules in China

South Korean shares fell for the first time in three trading days on Monday after stocks in China tumbled on the tightening of property rules.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 13. 34 points, or 0.66 percent, to close at 2,013.15. Trading volume stood at 351.11 million shares worth 4.14 trillion won (3.79 billion U.S. dollars).

The Chinese central government said last Friday that capital gains tax levied on home sellers will be raised to as high as 20 percent from the previous 1-2 percent on the sale price. It also called for higher down payments and mortgage loan interest rate for second-home buyers.

Market bellwether Samsung Electronics fell 0.3 percent, paring earlier gains arising from the news that the world's largest smartphone maker almost halved compensation from lawsuits against 苹果手机苹果手机苹果手机 maker Apple. Memory chip giant SK Hynix declined 1.9 percent, and top steelmaker POSCO slid 3 percent. Leading chemical firm LG Chem dipped 3 percent, and top oil refiner SK Innovation lost 1.4 percent.

Auto shares, which have been seen as oversold, gained ground, offsetting concerns over the weaker yen. Top auto maker Hyundai Motor rose 0.7 percent, and its affiliate Kia Motors gained 0.4 percent. The nation's largest auto parts maker Hyundai Mobis advanced 0.8 percent.

The Japanese yen depreciated against the dollar after Bank of Japan (BOJ) nominee Haruhiko Kuroda said he will do whatever it takes to end deflation, boosting speculation that the nominee will take more accommodative measures after taking office.

The local currency finished at 1,093.2 won against the greenback, down 10.2 won from Thursday's close.

Bond prices ended flat. The yield on the liquid three-year treasury notes closed steady at 2.63 percent, and the return on the benchmark five-year government bonds finished unchanged at 2. 74 percent.