Stocks bounce as fears fade over turmoil surrounding Kim’s death

Seoul, South Korea
1. Wide of stock board and computer screens showing Kospi and exchange rate at Korea Exchange
2. Close-up of Kospi point on screen
3. Mid of computer screen showing Kospi and exchange rate
4. Mid of stock board showing various rates
5. Wide of stock board
6. Close-up of Kospi on stock board
Tokyo, Japan
7. Wide of Tokyo Stock Exchange
8. Close-up of Nikkei 225 on screen
9. Mid of Tokyo Stock Exchange employee at desk
10. Pan across electronic ticker
11. Mid of electronic data screens
12. Tilt down of Tokyo Stock Exchange
Hong Kong
13. Wide of Hong Kong Stock Exchange trading floor, UPSOUND: bell ringing as trading begins
14. Wide of electronic board showing Hang Seng Index 18109.26 up 39.05 points
15. Mid of traders
16. Mid of electronic stock board
17. Mid of Francis Lun, Managing Director, Lyncean Securities Limited:
18. SOUNDBITE: (English) Francis Lun, Managing Director, Lyncean Securities Limited:
“Well yesterday the Hong Kong market crashed due to the sudden death of (the) North Korean leader. And I think common sense returned to the market today, and of course the death of a leader of (North) Korea really had no direct bearing on the stock market. I think the worry is really overdone, and the market regained some sense of stability and because the China markets rose today and Hong Kong basically follow H-share market in Shanghai.”
19. Wide of dealers
20. Pan across trading floor
Taipei – Taiwan
21. Wide exterior of local securities company with stock market index monitors
22. Close-up of index point number and turnover
23. Close-up of main index number
24. Close-up of monitor showing main index number, changes to index point number
25. Mid of stock ticker running inside office building
STORYLINE:
Asian stocks bounced back on Tuesday, as fears receded of political and economic uncertainty in the region following news of North Korean leader Kim Jong Il’s death the day before.
Investors appeared relieved that news of Kim’s death from a massive heart attack did not trigger any immediate crisis over a leadership succession in the isolated nation.
South Korea’s Kospi led regional gains, rising 0.9 percent to close at 1,793.06 a day after tumbling 3.4 percent on news of Kim’s death.
Japan’s Nikkei 225 index climbed 0.5 percent to end at 8,336.48 and Hong Kong’s Hang Seng edged up less than 0.1 percent to 18,080.20.
In mainland China, the benchmark Shanghai Composite Index dipped 0.1 percent to close at 2,215.93 after gaining as much as 1 percent earlier, and the smaller Shenzhen Composite Index lost 0.4 percent to 909.02
Benchmarks in Australia, New Zealand and Singapore also declined.
Asian markets also appeared to shrug off news that European Union finance ministers raised only three-quarters of the 200 (b) billion euro (261 (b) billion US dollars) that they wanted to provide the International Monetary Fund (IMF) to help heavily indebted nations avoid default.
Eurozone countries are hoping that the extra IMF loans – meant to be channelled into a special fund that will invest alongside the euro-zone’s own bailout fund – will encourage other non-European countries to provide support for Europe via the IMF.
Trading was thin in many markets ahead of the Christmas holidays.

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