Seoul - Shares nosedived Thursday on the Seoul stock exchange as concerns over a global economic recession deepened. South Korea's currency fell against the dollar.

The benchmark Kospi index plunged 71.34 points, or 6 per cent, to close at 1,111.34. Declining issues outnumbered advancers 780 to 67.

The main index of the technology-heavy Kosdaq market declined 21.28 points, or 5.84 per cent, to 343.35.

On currency markets, the US dollar was quoted at 1,392.0 Korean won after Wednesday's close of 1,347.50 won. (dpa)