Korean War Still Shake The Asian Market

Reuters reports South Korea's main stock index was at its lowest point this morning as investors were many who sold their shares so that there is oversold. CNBC Asia FTSE 100 Index fell 0.8 percent. Japan's Nikkei index also fell due to tensions on the Korean peninsula. Investors are confused and encouraged profit-taking after recent rally.

The Nikkei fell more than 2 percent of the close Monday and then fell 0.7% at the close of the first session to 10039.10. The broader Topix index fell 0.8 percent to 868.79. Inpex Corp., a top oil explorer Japan fell 1.9 percent to 439,000 yen after oil prices slipped as fears of rising eurozone crisis and tensions on the Korean peninsula that triggered the dollar rally.

However, defense-related stocks rose, where the stock Tokyo Keiki, maker of instruments for aircraft and ships rose 5.3 percent to 120 yen. Trading house Sojitz shares jumped 8.4 percent to 167 yen after saying has formed a bond with Australian mining company Lynas Corp. in the supply of rare metals and will announce details of the agreement on Wednesday.

South Korean stocks opened down more than 2 percent and bond futures rose a few minutes after opening weaker. Won fell 2 percent to 1160.3 per dollar and the stock market benchmark KOSPI fell 1.4 percent. Treasury bonds futuresuntuk December delivery traded up 0.09 points to 112.14.

Australia shares fall 0.6% in the morning which is pressed a similar issue with the European debt and the Korean War. The S & P / ASX 200 fell 27.6 points to 4561.5.

Hong Kong shares rose, after weakening for three days in a row as investors hunt for banking stocks, property and commodity-related counters. The Hang Seng Index rose 0.8 percent to 23107.44.

The Shanghai Composite rose 1 percent because of a rebound in property and banking stocks after their recent selloff.

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