Seoul  - Shares nosedived Tuesday on the Seoul stock exchange following losses in the US market. South Korea's won slipped to an 11-year low against the dollar.

The benchmark Kospi index plunged 35.67 points, or 3.2 per cent, to close at 1,063.88.

Declining issues outnumbered advancers 651 to 182.

The main index of the technology-heavy Kosdaq market declined 5.46 points, or 1.45 per cent, to 370.11.

On currency markets, the dollar was quoted at 1,516.30 Korean won, after 1,489.0 won Monday. (dpa)