Seoul - Shares nosedived Tuesday on the Seoul stock exchange on worries over a global credit crunch and fear of monetary tightening. 

The benchmark Kospi index fell 46.25 points, or 2.9 per cent, to close at 1,533.47. 

Declining issues outnumbered advancers 724 to 100. 

The main index of the technology-heavy Kosdaq market fell 18.25 points to 515.92. 

On currency markets, the US dollar was quoted at 1,032.70 Korean won, after 1,042.90 won on Monday. (dpa)