The benchmark Korea Composite Stock Price Index (KOSPI) slashed 90.17 points, or 6.1 percent, at an 18-month low of 1,387.75 on Tuesday in response to the bankruptcy of the 158-year-old Lehman Brothers Holdings.
The volume was moderate at 387.2 million shares worth 6.28 trillion won (5.4 billion U.S. dollars) with losers outpacing gainers 810 to 63.
Tuesday was the first day for local investors to respond to the collapse of Lehman as South Korean markets closed on Monday for the Chuseok holiday.
The local currency closed at a 49-month low of 1,160 won to one U.S. dollar, plunging 50.9 won from Friday's close as foreign investors buy U.S. dollar after dumping shares in local market.
South Korea's Financial Services Commission said earlier on the day that it banned the two Lehman units in Seoul from selling their assets and repaying debts until Dec. 15 in a bid to protect investors at home and preventing potential chaos in local financial markets.
Source:Xinhua
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