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South Korea’s Kospi Index Slumps 4.9% After Report of Kim Jong Il’s Death

South Korea’s Kospi index slumped as much as 4.9 percent after North Korean state television reported that its leader Kim Jong Il has died.

The Kospi lost 4 percent to 1,766.82 as of 12:07 p.m. in Seoul. It earlier sank 4.9 percent to 1,750.60.

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