Seoul - Shares nosedived Friday on the Seoul stock exchange on persistent concerns over a global economic recession, following losses in the US market. South Korea's won soared against the dollar after highly volatile trading.

The benchmark Kospi index fell 53.42 points, or 4.1 per cent, to close at 1,241.47.

Declining issues outnumbered advancers 758 to 104.

The main index of the technology-heavy Kosdaq market fell 19.56 points to 350.28.

On currency markets, the US dollar was quoted at 1,309.0 Korean won, after 1,379.50 won on Thursday. However, during the day, the exchange rate fluctuated widely, reaching 1,460 won per dollar at one point. (dpa)