South Korean shares fall on economy concerns

By DPA,

Seoul : Shares plunged Tuesday on the Seoul stock exchange on concerns over the economy despite a government stabilisation package worth $130 billion to prop up the troubled financial market.

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The benchmark Kospi index fell 11.53 points, or 1 percent, to close at 1,196.1.

Declining issues outnumbered advancers 496 to 325.

The main index of the technology-heavy Kosdaq market declined 2.12 points to 350.97.

South Korea’s currency also dropped against the US dollar. The US dollar was quoted at 1,320.10 Korean won, after trading at 1,315.0 won Monday.