Asian stocks down over news of Kim Jong Il's death

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Kim Jong II's death triggers a broad fall in Asian markets. [CFP]

Asian stock markets slid broadly after the announcement of Kim Jong II's death, with Korean shares plunging 4.2 percnet to 1763.49, amid worries about repercussion caused by a leadership transition fraught with uncertainty in North Korea.

Chinese shares opened sharply low this morning, and extended losses after the news of Kim Jong Il's death.

Tokyo's Nikkei 225, which was closed for the mid-session break at the time, was down 1.38% by press time.

Markets in Taiwan, Singapore, Australia, New Zealand and Indonesia also fell.

"The market will definitely get hurt in a short term. His death's influence will only last for a couple of days according to previous similar situations," Bae Sung-young, a market analyst at Hyundai Securities. "But, this time is different, because the power transition is not completed yet."

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