Seoul - Shares fell sharply Tuesday on the Seoul stock exchange on heavy institutional selling. South Korea's currency slid against the dollar. The benchmark Kospi index tumbled 39.59 points, or 3 per cent, to close at 1,300.24.

Declining issues outnumbered advancers 737 to 142.

The main index of the technology-heavy Kosdaq market plunged 26.60 points to 479.37.

On the currency markets, the US dollar was quoted at 1,356.80 Korean won, after 1,343.40 won on Monday. (dpa)