North Korean state media reported that Mr. Kim had died Saturday of a heart attack. The reports suggested that Mr. Kim’s chosen successor, his youngest son, Kim Jong-un, was in charge.
The dollar surged 1.4 percent against the South Korean currency, the won, rising to 1,174.80 won. The Kospi index in Seoul fell 3.4 percent.
The Tokyo benchmark Nikkei 225 stock average fell 1.3 percent. The Sydney market index S.P./ASX 200 fell 2.4 percent. In Hong Kong, the Hang Seng index fell 1.2 percent and in Shanghai the composite index fell 0.3 percent.
But stocks were little changed in European morning trading after falling early. The Euro Stoxx 50 index, a barometer of euro zone blue chips, rose 0.1 percent, while the FTSE 100 index in London was down less than 0.1 percent.
Investors in Europe were more focused on a teleconference of European finance ministers later Monday. The officials are seeking to move ahead with a plan to increase their contribution to the International Monetary Fund by about $260 billion.
Standard Poor’s 500 index futures slipped, suggesting Wall Street would begin the day marginally lower. The S.P. 500 added 0.3 percent on Friday.
United States and German government bonds, considered to be among the most secure investments in the world, were little changed, suggesting investors were calm after the shock of the Korean news wore off.
The dollar gained against other major currencies. The euro fell to $1.3018 from $1.3046 late Friday in New York, while the British pound fell to $1.5505 from $1.5545. The dollar rose to 77.90 yen from 77.76 yen, and to 93.73 Swiss francs from 0.9359 francs.
U.S. crude oil futures fell 0.3 percent to $93.210 a barrel. Comex gold futures rose just under 0.1 percent to $1,598.60 an ounce.
Article source: http://www.nytimes.com/2011/12/20/business/global/daily-stock-market-activity.html?partner=rss&emc=rss
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