The benchmark Korea Composite Stock Price Index (KOSPI) dived 69.18 points, or 3.94 percent, to settle at 1,685.46. Trading volume stood at 1.2 billion shares worth 11.9 trillion won (9.7 billion U.S. dollars).
Concerns deepened about the COVID-19 outbreak in the United States amid the growing number of reported cases and deaths.
Foreigners continued to dump domestic stocks for the 20th consecutive trading day, during which the foreign sale amounted to 12.2 trillion won (9.9 billion U.S. dollars).
Market watchers said the stock market fall was limited on expectations for improved economic indicators and fiscal stimulus package from China.
Blue-chip shares lost ground. Market bellwether Samsung Electronics dipped 4.1 percent, and memory chip giant SK Hynix retreated 5.9 percent. Samsung BioLogics, the biopharmaceutical unit of Samsung Group, plummeted 6.1 percent, and the most-used search engine Naver slipped 4.1 percent.
Biopharmaceutical behemoth Celltrion plunged 13.5 percent, and leading chemical firm LG Chem declined 4.3 percent. The biggest automaker Hyundai Motor lost 3.7 percent.
The small-cap KOSDAQ was down 17.23 points, or 3.03 percent, to close at 551.84.
Hit by the foreign sale of local listed shares, the South Korean currency fell sharply versus the greenback.
The won/dollar exchange rate jumped 13.1 won to finish at 1,230.5 won per dollar, topping 1,230 won in four days.
Bond prices ended mixed. Yields on the liquid three-year treasury notes gained 2.2 basis points to 1.092 percent, but the return on the 10-year government bonds fell 0.6 basis points to 1.545 percent.
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