Shares fall sharply in Seoul

October 6th, 2008 - 3:17 pm ICT by IANS  

Seoul, Oct 6 (DPA) Shares on the Seoul Stock Exchange nosedived Monday, sending the benchmark Kospi index down more than 4 percent as worries over the global financial crisis persisted despite a US bail-out plan.The Kospi plunged 60.9 points, or 4.3 percent, to close at 1,358.75.

Declining issues outnumbered advancers 775 to 79.

The main index of the technology-heavy Kosdaq market declined 25.71 points to 406.39.

On currency markets, the local currency fell to a six-year-low against the dollar. The greenback was quoted at 1,269 won after 1,223.50 won Thursday. The financial markets were closed Friday for a public holiday.

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