South Korean stocks fell for the third straight day on Thursday due to concerns about a potential US economic recession, while the local currency strengthened against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) closed 0.21 percent lower at 2,575.50, with trading volume reaching 371 million shares valued at 10 trillion won. Retail investors continued their buying streak for the fourth session, purchasing a net 457.6 billion won worth of local shares, while offshore investors remained net sellers for the third consecutive session, selling a net 590.4 billion won. Institutions, on the other hand, acquired 123.8 billion won in shares. The stock index initially surged as investors sought to capitalize on blue chip bargains after a 3.15 percent drop caused by a worse-than-expected US manufacturing purchasing managers index. However, investors adopted a wait-and-see approach prior to the release of US jobs data, with concerns about a US recession lingering until the data's release on Friday. Major companies experienced mixed performances, with Samsung Electronics and Hyundai Motor recording losses, while SK hynix, Kia, LG Energy Solution, and Samsung SDS saw gains. The local currency traded at 1,335.90 won against the dollar, up 6.3 won from the previous session.