South Korea's benchmark stock index plunged nearly four percent as the World Health Organization(WHO) declared the coronavirus a global pandemic.

The Korea Composite Stock Price Index(KOSPI) fell 73-point-94 points, or three-point-87 percent, ending Thursday's session at one-thousand-834-point-33. 

Losses on Thursday had initially exceeded five percent following U.S. President Donald Trump's televised address, which fell short of market expectations for economic stimulus measures in the U.S.

Investors dumped Korean shares as Trump's travel ban from Europe ratcheted up fears the outbreak could drive the global economy into a recession. 

A sidecar was also activated, suspending the trading for five minutes from 1:04 p.m. when KOSPI 200 index futures slipped by more than five percent. 

The tech-heavy KOSDAQ also fell, losing 32-point-12 points, or five-point-39 percent, to close at 563-point-49. 

On the foreign exchange, the local currency weakened 13-point-five won against the dollar, ending the session at one-thousand-206-point-five won.