South Korean stocks fell and the local currency hit an eight-month low against the dollar on Thursday as foreign investors offloaded shares amid lingering global trade concerns. 

The benchmark Korea Composite Stock Price Index(KOSPI) lost 27-point-79 points, or one-point-19 percent, to close the day at two-thousand-314-point-24. It marked the first time the KOSPI fell below the two-thousand-320 mark this year.

At one point during trading, the main bourse fell to two-thousand-310-point-20 to mark a ten-month intraday low. 

The tech-heavy KOSDAQ also fell sharply, losing 16-point-49 points, or one-point-99 percent. It closed the day at 810-point-20. 

On the foreign exchange, the local currency weakened six-point-six won against the dollar, ending the session at one-thousand-124-point-two won to hit its lowest level since October 30th last year. The drop came amid continuing concerns of a trade war between the U.S. and China. 

On Wednesday, President Donald Trump dropped plans to impose strict limits on Chinese investment in U.S. tech firms. He instead urged Congress to strengthen the existing national security review process that applies to all foreign countries, apparently to thwart Chinese acquisition of sensitive American technologies and sparking further investor concern.