Korean Stocks Drop as Earthquake is Reported caused by a nuclear test

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The Nikkei 225 Stock Average closed 2.5 percent higher than yesterday. Australia’s S&P/ASX 200 Index also made gains of 0.1 percent and New Zealand’s NZX 50 Index made a slight loss of just under 0.1 percent. South Korea’s Kospi Index lossed previous gains, closing 0.1 percent lower, this drop probably related to an earthquake in the region that the South Korean Defense Ministry is treating as a North Korean nuclear test.

Canon Inc. advanced by 2.5 percent as the yen continues to fall, yesterday it reached its lowest support level since May of 2010. Nissan Motor Co. also took losses, its stock dropped by 3.4 percent having announced third-quarter earning that were lower than expected. Dentsu Inc. was the day’s success story, gaining a staggering 12 percent by day’s end as the company’s nine month profits reached 24 percent.

The MSCI Asia Pacific Index also made gains, climbing 0.4 percent to 132.94. This goes some way to reversing three days of overall losses. Equity markets in the region resumed business after being closed for a public holiday. China, Hong Kong, Taiwan, Singapore, Vietnam and Malaysia’s equity markets as still closed.

 

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