South Korean police say a stock broker has jumped off a high-rise residential building to his death after he apparently suffered heavy losses in the global markets turmoil.

Chief investigator Lee Kang-ho said Wednesday that a 48-year-old man surnamed Seo sent his colleagues text messages expressing remorse over the losses just minutes before he jumped from the building.

The suspected suicide took place in the southeastern city of Daegu. Lee said Seo's text messages included an apology to his clients. No separate suicide note was found.

South Korean stocks have fallen sharply amid global financial turmoil fanned by worries over the future of the U.S. economy.

South Korea has the highest suicide rate in the developed world.