Most Asian markets on holiday; Kospi down

While most other major Asian stock markets were closed for an extended New Years holiday.South Koreas Kospi, which lost 11 percent of its value last year, was marginally lower at 1,825.37. Financials led the decline, Yonhap News reported, with Woori Finance Holdings losing 1.9 percent and Shinhan Financial Group dropping 2.1 percent.The technology sector move higher, with Samsung Electronics up 1.3 percent and LG Electronics gaining 2.8 percent. Acer Inc. lost 1.4 percent.Taiwans TAIEX, which was also open for business Monday, fell 0.8 percent to 7,018.30. Foxconn Technology, the worlds biggest contract electronics manufacturer, which makes iPads and iPhones for Apple Inc., fell 1 percent. Personal computer maker Acer Inc. shed 1.3 percent.The Asian-Pacific regions major benchmarks, including Japans Nikkei 225 index, Hong Kongs Hang Seng Index and Australias S&P ASX 200, were closed.Last year was one that traders would prefer to forget: most Asian equity indexes closed out 2011 deeply in the red. The Nikkei in Tokyo ended the year at 8,429.45 its lowest closing since 1982.Chinas benchmark Shanghai Composite Index, closed Monday, endured a 21 percent loss for the year as the impact of Beijings multibillion-dollar stimulus faded and the government tightened curbs on lending and investment to cool blistering economic growth.Hong Kongs Hang Seng Index finished at 18,434.39 a precipitous slide of 19.7 percent from a year ago. Singapores Straits Times Index took a 17.5 percent dive when it closed at 2,646.35 on Friday.Australias benchmark S&P ASX 200 ended the year at 4,140.4 14.5 percent lower for 2011.