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Won, Stocks Slide on Report of Kim Jong Un’s Health

  • Kospi index slumps, defense shares rally on geopolitical risk
  • Won slides to lowest in two weeks, sovereign yields climb
General Images Of South Korean Won And Chinese Yuan Currency Notes
Photographer: SeongJoon Cho/Bloomberg
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Kim Jong Un is suddenly back on investors’ radars.

After focusing on little else but the coronavirus crisis in recent weeks, money managers got an unexpected jolt on Tuesday after unconfirmed reports that the North Korean leader’s health may have deteriorated. While information coming out of the isolated country was limited, investors didn’t wait to react: South Korean assets sank and risk-off moves in global markets gathered pace.