Seoul - Shares on the Seoul stock exchange bucked slides on other Asian markets Monday, edging up after a larger-than-expected interest-rate cut by South Korea's central bank.

The local currency, however, continued to fall against the dollar.

The benchmark Kospi index rose 7.7 points, or 0.8 per cent, to close at 946.45 while the main index of the technology-heavy Kosdaq market declined 18.5 points to 261.19.

Earlier in the day, the Bank of Korea cut its key interest rate by 0.75 percentage points to 4.25 per cent in its latest move to calm recent panic on financial markets and free up credit as South Korea faces its most dire economic crisis since the 1997-98 Asian financial crisis.

Last week, it saw the Kospi plummet 20 per cent, its worst weekly showing since 1997, while the won has fallen 36 per cent so far this year.

On currency markets, the US dollar was quoted at 1,442.50 Korean won, up from 1,424 won Friday. (dpa)