South Korean equities and the won fell sharply on Monday as the death of North Korean leader Kim Jong-il raised fears of political instability in the nuclear-armed state.
The won sank to a 10-week low against the US dollar within minutes of the news being announced, falling more than 1 per cent as traders fled for the safety of the American currency. By mid-afternoon in Seoul the currency was trading at Won1,174.80 per dollar.
“The reason you’re seeing the won weaken is because North Korea is such an opaque country and it’s nuclear armed as well,” said Sacha Tihanyi, currency strategist at Scotia Capital. “The uncertainty is definitely a negative.”
您已閱讀34%（654字），剩餘66%（1245字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。