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Asia, Korea Up on Impeachment Ruling


South Korean equities rose slightly amid growing political uncertainty after President Park Geun-hye's impeachment ruling.

The Kospi Index in Korea regained 6.29 points, or 0.3%, to 2,097.35, after the Constitutional Court upheld a parliament vote made late last year to impeach Park. She will now leave office immediately and snap elections must be held within 60 days for her replacement.

Meanwhile, the won opened weaker in onshore trade at 1,161 per U.S. dollar versus 1,158.1 at the previous close. Late afternoon local time, the won was stronger against the greenback, at 1,156.33.

The Nikkei 225 Index leaped 286.03 points, or 1.5%, to end a turbulent week at 19,604.67, as the yen weakened against the greenback

The Hang Seng Index in Hong Kong restored 67.11 points, or 0.3%, to 23,568.67

Toshiba shares plunged 4% during early trade before sliding up 1.7%. The volatility was likely over concerns that Toshiba's U.S. subsidiary hired bankruptcy attorneys to consider Chapter 11 filing as an option to help with a multi-billion dollar write-down.

Against the U.S. dollar, the yen was weaker at 115.42 while the Australian dollar was under pressure at $0.7521.

CHINA

In Shanghai, the CSI 300 inched up 0.95 points to 3,427.89

China's Fosun Pharmaceuticals is holding early-stage talks with buyout funds including CVC about a potential joint bid for German generic drugmaker Stada. Fosun Pharma shares were up 1.2%.

In other markets

In Taiwan, the Taiex subtracted 30.72 points, or 0.3%, to 9,627.89

In Singapore, the Straits Times Index gained 14.51 points, or 0.5%, to 3,133.35

In New Zealand, the NZX 50 hiked 36.61 points, or 0.5%, to 7,177.59

In Australia, the S&P/ASX 200 jumped 34.41 points, or 0.6%, to 5,775.62