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South Korean stocks rebound as world digests change in North Korea

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Asian stocks closed mixed on Tuesday, as the Asia-Pacific region continues to reel from the sudden death of North Korean leader Kim Jong Il.

Seoul's KOSPI ( EWY , quote ) rebounded 0.91% from yesterday's session, which ended with a 3.43% drop. The South Korean won also showed new life, selling for 1,169.4 to the dollar, a gain of 0.46% after it hit a 10-week low on Monday.

Samsung Electronics gained 0.5% after dipping 3.6% yesterday.

Olympus was the biggest percentage gainer on the Nikkei, jumping 16%, after it was reported to be considering a capital injection of $1.3 billion, with Sony and Fujifilm as possible buyers.

Australian stocks ( EWA , quote ) dipped 0.17% and Singaporean shares ( EWS , quote ) fell 0.14%. Chinese shares ( YAO , quote ) dropped 0.10%. Japanese shares, however, ( EWJ , quote ) rebounded 0.49%.

While Asian investors started to refocus on Europe's debt crisis Tuesday, European stocks were lifted during morning trading as the Munich-based Ifo think tank raised its business climate index for Germany, the euro zone's largest economy.

Asian and European currencies appreciated against the dollar. China's yuan rose 0.13% to 6.3459 to the dollar. The British pound increased 0.82% to $1.5631. Meanwhile, the euro rebounded 0.62% to $1.308.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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