Shares fell sharply Wednesday on the Seoul stock exchange as investors kicked off the new year with caution following a decline in the previous US market session, reported dpa. The benchmark Kospi index fell 43.68 points, or 2.3 per cent, to close at 1,853.45. Declining issues outnumbered advancers 528 to 277. The main index of the technology-heavy Kosdaq market, however, gained 2.89 points climbing to 707.12. The US dollar was quoted at 936.90 won, after trading at 936.1 won last Friday.