Death of North Korea’s Kim Adds Uncertainty in Financial Markets

Geopolitical tensions in East Asia, especially the Korean peninsula, increased as the North Korean media reported that its “Dear Leader” Kim Jong Il died. Asian stocks declined as the uncertainty arose after the Kim’s death, such as how long would Kim Jong Un (Kim Jong Il’s son) stay in power, the flee of refugee from North Korea to nearby countries including South Korea and Japan and possibility of reunification of the 2 Koreas, may cause instability in the region. Most Asian bourses fell with the Seoul Composite plunging more than -4% because of the news.

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Death of North Korea’s Kim Adds Uncertainty in Financial Markets