Seoul - Shares continued their freefall Thursday on the Seoul stock exchange as panic selling gripped the market following losses in the US. South Korea's won slid to a ten-year low against the dollar.

The benchmark Kospi index fell 84.88 points, or 7.5 per cent, to close at 1,049.71, the lowest level in more than three years.

Declining issues outnumbered advancers 807 to 58.

The main index of the technology-heavy Kosdaq market plunged 26.58 points to 308.95.

On the currency markets, the US dollar was quoted at 1,408.80 Korean won, after 1,363.0 won on Wednesday. (dpa)