(RTTNews) - The South Korean stock market was trading sharply lower Monday, extending its losses for the sixth straight trading session. Wall Street’s sharp decline Friday, amid concerns about the health of the U.S. economy, dented investor sentiment. At 10:11 p.m. ET, the benchmark Korea Composite Stock Price Index or KOSPI was down 63.14 points, or 4.45%, at 1,356.51.

In the currency market, the South Korean won fell nearly 5% to its lowest level in six and a half years against the dollar. In early trade, the won fell to as low as 1,286.9 a dollar from Thursday’s domestic close of 1,223.5 a dollar.

U.S. stocks settled sharply lower on Friday despite the House of Representatives approving the $700 billion U.S. financial sector bailout package. Additionally, doubts about the health of the U.S. economy, following the Labor Department’s report that U.S. employers cut 159,000 jobs in the non-farm sector, dented investor sentiment. The Dow closed down 157 points or 1.5% at 10,325, the Nasdaq dropped 29 points or 1.5% to 1,947.39, and the S&P 500 gave away 15 points or 1.4% to 1,099.

Crude oil prices continued to fall in Asia on Monday, as signs of slowing global economic growth raised demand concerns. At 9:38 p.m. ET, oil was quoted at $91.94 a barrel, down $1.94, after the contract for November delivery dropped 9 cents to settle at $93.88 a barrel on Friday in New York trading.

In the tech space, Hynix Semiconductors plunged 4.7%, market heavyweight Samsung Electronics shed 2.8%, LG Display gave away 5.4% and LG Electronics lost 3.4%.

Automaker Hyundai Motor fell 3.0% and steelmaker POSCO plummeted 6.7%.

In the financial sector, Shinhan Financial Group tumbled 5.9% and Woori Finance fell 2.2%. Top brokerage Samsung Securities dropped 3.7% and Mirae Asset Securities slumped 9.2%.

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Posted in Categories: Economy, Releases, USA.

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