Shares fall sharply in Seoul

Shares fall sharply in SeoulSeoul  - Shares nosedived Monday on the Seoul stock exchange, sending the benchmark Kospi Index down more than 4 per cent, as worries over the global financial crisis persist despite a US bailout plan.

The Kospi plunged 60.90 points, or 4.3 per cent, 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 1,269.0 Korean won, after 1,223.50 won last Thursday. The financial markets were closed on Friday because of a public holiday. (dpa)

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