South Korean shares fell for a third straight session Thursday, though pared sharp early losses after a big drop on Wall Street.

The Korea Composite Stock Price Index fell 35.42 points, or 3.2 percent, to close at 1,088.44. The Kospi at one point declined as much as 7.4 percent.

Thursday’s fall brought the index’s decline in 2008 to 42.6 percent.

Market bellwether Samsung Electronics Co. fell 1.4 percent to 474,000 won ($341). Hyundai Motor Co. fell 3.6 percent to 47,900 won ($34).

Investor sentiment took a hit after the Dow Jones industrial average overnight fell 411.30, or 4.73 percent, to 8,282.66, its lowest close since a 5 1/2-year low of 8,175.77 reached on Oct. 27.

Flat panel maker LG Display Co. fell 11.1 percent to 20,100 won ($14). LG Display was one of three Asian electronics firms that have agreed to plead guilty and pay $585 million in fines for conspiring to drive up the prices of LCD screens used in computers, TVs, cell phones and other electronic devices.

In a plea deal filed Wednesday, LG Display Co. Ltd., Japan’s Sharp Corp., and Taiwan’s Chunghwa Picture Tubes Ltd. agreed to cooperate in an antitrust investigation headed by the U.S. Justice Department. The plea agreement was filed in federal court in San Francisco.

The South Korean won, meanwhile, fell 2.3 percent to 1,391.50 to the U.S. dollar. The won has declined 32.7 percent so far this year, making it one of the world’s worst performing currencies.

The Kospi and won have declined sharply this year as foreign investors have fled South Korean stocks at a record pace. Declines in the Kospi and won accelerated after the global financial crisis, though have recovered somewhat as markets worldwide have shown some recent signs of stabilizing.

The start of stock trading was delayed by one hour Thursday because of national university entrance examinations.

The stock exchange, government and some other offices traditionally delay the start of business in order to clear roads to ensure no delays for students heading to exam sites.

The Kospi closed one hour later than usual to make up for the late start.