THE ASSOCIATED PRESS

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SEOUL, South Korea - South Korean shares rose sharply Monday following last week's steep declines.

The Korea Composite Stock Price Index rose 33.77 points, or 2.7 per cent, to 1,275.24 after a little more than one hour of trading. The Kospi at one point had risen as much as 4.1 per cent.

The gain came after the benchmark index fell 12.6 per cent last week as world markets plunged amid the global financial crisis.

In a volatile session Friday in New York, the Dow Jones industrial average fell 128, or 1.49 per cent, to 8,451.49, gyrating within a 1,000 point range. The average had its worst week on record in both point and percentage terms.