- The Korean won weakened sharply on Tuesday against the dollar on unconfirmed reports that North Korean leader Kim Jong Un is seriously ill.
- As of 0239 GMT Tuesday, the Korean won fell 1.54% to trade at 1,239.35 per dollar.
- The moves came after CNN reported Tuesday, citing an unnamed U.S. official with direct knowledge, that Washington is "monitoring intelligence" that Kim is in "grave danger after a surgery."
Kim Jong Un, North Korea's leader, attends a welcoming ceremony at the Presidential Palace in Hanoi, Vietnam, on Friday, March 1, 2019.Kham/Pool | Bloomberg | Getty Images
The Korean won weakened sharply on Tuesday against the dollar on unconfirmed reports that North Korean leader Kim Jong Un is seriously ill.
As of 0239 GMT Tuesday, the Korean won fell 1.54% to trade at 1,239.35 per dollar.
The South Korean markets also saw sizable declines, with the Kospi down 2.62% while the Kosdaq index fell 3.47%. Shares of defense firm Victek skyrocketed 29.66% while North Korea exposed stocks Hanil Hyundai Cement and Hyundai Elevator plummeted more than 6% each.
The moves came after CNN reported Tuesday, citing an unnamed U.S. official with direct knowledge, that Washington is "monitoring intelligence" that Kim is in "grave danger after a surgery."
The North Korean leader was reportedly absent during a celebration of his grandfather's birthday on April 15, raising questions over his health. CNN reported that he had been seen four days to prior to that, at a government meeting.
Reports out of the region conflicted, however, with South Korean news agency Yonhap citing an unnamed official from South Korea who said Kim was not seriously ill.
An earlier report from Reuters Tuesday also cited a South Korean media website, Daily NK, as saying that Kim was receiving treatment after undergoing a cardiovascular procedure on April 12. That report cited unidentified sources inside the regime.
This is developing news. Please check back for updates.
Source: cnbc.com
