The South Korean stock market plunged once again on Monday amid fears over the economic impact of the novel coronavirus pandemic. 

The benchmark Korea Composite Stock Price Index(KOSPI) shed 56-point-58 points, or three-point-19 percent to close at one-thousand-714-point-86.

It is the fourth consecutive trading day the main bourse headed south, all over two-point-seven percent. The latest drop came even after the Financial Services Commission(FSC)’s decision to ban short-selling on all listed shares for six months took effect early in the day.  

Foreigners dumped local stocks for eight days in a row, selling a net share of 680-point-three billion won, while institutions sold 340-point-eight billion won. Individual investors snapped up 926-point-four billion won. 

The tech-heavy KOSDAQ also fell, losing 19-point-49 points, or three-point-72 percent, to close at 504-point-51 points. 

On the foreign exchange, the local currency weakened six-point-seven won against the dollar, ending the session at one-thousand-226 won.