South Korean shares rebound after death of 'Dear Leader'

Shares on South Korea's main index rose nearly 1% overnight, having sold off sharply on the day of North Korean leader Kim Jong Il's death.

The country's Kospi index rose 0.9% to 1,793 points, recovering some of the losses seen the previous day when it dropped 3.4%.

Other Asian markets were given a boost as the South Korean index recovered, with the Nikkei 225 up 0.5% to 8,336 points.

Meanwhile in the US markets came under pressure overnight as investors continued to fret over the crisis in Europe.

The Dow ended the session down 0.8% at 11,766 points, while the S&P 500 was 1.2% weaker at 1,205 points.

With trading light as markets enter the holiday period, the FTSE 100 also closed 0.4% down yesterday at 5,367 points.

Banks weighed on the index after Chancellor George Osborne said he would back proposals made in the Vickers report to split investment banking and retail banking.