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Korea: Ghost of Crisis Past?
By: InVivo Analytics   Wednesday, September 03, 2008 5:19 PM
Symbols: ANDW, CFC, KB, LPL, MSCI, PKX, SHG, TBHS, UBS, UVV
He tells CNBC's Amanda Drury the won could reach 1,200 against the dollar by year-end.
  • BoK & BoT Need to Hike Rates
    The Bank of Korea and Bank of Thailand need to increase their interest rates to order to prop up their weakening currencies, opines Andrew Freris, senior investment strategist, Asia at BNP Paribas Private Bank. He tells CNBC's Martin Soong why.
  • Korea May Raise Key Rate to Stem Won's Drop, Goldman, UBS Say
    The won has slumped 12 percent in the past month and could trigger "an inflation-depreciation spiral if allowed to persist," Kwon Goohoon, a Goldman economist in Seoul, said in a Sept. 2 report.

    • The Charts

    Let's take a closer look at the Korea Index Fund and some of the bigger Korean ADRs that trade in the United States.

    iShares MSCI South Korea Index Fund (EWY)

    POSCO (PKX)

    Kookmin Bank (KB)

    Shinhan Financial Group (SHG)

    LG Display Co (LPL)

    As we can see from the above charts, they all are showing weakness. Weakness in Korea might mean weakness to spread to other emerging markets?

    • Thai Baht Holds Near 12-Month Low; Central Bank to Slow Drop
      Thailand's baht held near a one-year low after central bank Governor Tarisa Watanagase said political unrest may further erode investor confidence. Bonds fell.
    • Thai PM declares state of emergency
      Thailand's army chief on Tuesday ruled out using troops to end a siege by anti-government protesters of Bangkok's Government House, even after the prime minister declared a state of emergency in the city.
    • Australia makes first rate cut in seven years
      Australia's central bank yesterday cut its benchmark interest rate for the first time in almost seven years as it responded to indications that inflationary pressures and economic growth might both be easing.

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