(LEAD) Seoul shares tumble 4.39 pct on U.S. recession fears

(ATTN: ADDS bond yields at bottom)
SEOUL, Sept. 5 (Yonhap) -- South Korean stocks nosedived 4.39 percent Monday as bleak U.S. job reports and European debt woes refreshed global recession fears, analysts said. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) plunged 81.92 points to a one-week low of 1,785.83. Trading volume was moderate at 410 million shares worth 5.83 trillion won (US$5.46 billion) with losers outnumbering gainers 757 to 104.
"Bad U.S. data and the European Central Bank's warning on Greece over the weekend discouraged investor sentiment," said Lee Jae-man, an analyst at Tong Yang Securities Inc. "Large-cap stocks lost significant ground."
On Friday, reports showed that the United States added no new jobs in August, falling short of market expectations and renewing worries that the world's largest economy might lapse into another round of economic recession.
Foreign and institutional investors shunned the Seoul bourse, dumping big-cap exporters of electronics products, auto and ships. Foreign investors reduced a net 330.7 billion won while domestic institutions unloaded a net 436.4 billion won.
Market bellwether Samsung Electronics slumped 4.94 percent to 731,000 won and leading carmaker Hyundai Motor plunged 5.25 percent to 189,500 won.
Hyundai Heavy Industries, the world's top shipyard, plummeted 7 percent to 312,000 won while LG Chem, Korea's leading chemicals maker, nosedived 10.48 percent to 329,000 won.
Oil refiners were the biggest losers in the bear market as the global economic slowdown was feared to hurt demand for petroleum products. Leading oil refiner SK Innovation lost 10.98 percent to 146,000 won and S-Oil tumbled 10.59 percent to 105,500 won.
Domestically oriented stocks outperformed exporters. SK Telecom, the leading mobile carrier, added 2.32 percent to 154,500 won.
The local currency closed at 1,068.8 won to the greenback, down 5.8 won from Friday's close, as offshore investors reduced their holdings of Seoul stocks, dealers said.
Bond prices, which move inversely to yields, closed sharply higher. The yield on three-year Treasuries fell 0.09 percentage point to 3.35 percent and the return on the benchmark five-year government bonds plunged 0.11 percentage point to 3.46 percent.