Asian Currencies Decline on Speculation Investors to Cut Regional Holdings

(Bloomberg) -- Asian currencies declined, led by the
Indonesian rupiah and Philippine peso, on speculation investors
are cutting holdings in the region as signs mount that the U.S.
economy is slowing.

The rupiah fell to a one-year low and the South Korean won
slipped to its weakest in a month, joining declines in stocks, as
reports on Aug. 3 showed U.S. employers added fewer jobs in July
and service industries growth slowed. The U.S. is the second-
biggest buyer of Indonesia's and South Korean exports.


Read more at Bloomberg Currencies News

Korean Won Declines to Near the Lowest in a Month as Investors Reduce Risk

(Bloomberg) -- The South Korean won fell, approaching
the lowest in more than a month, on speculation investors are
cutting investments in Asia as signs mount that the U.S. economy
is slowing.

Korea's currency and the benchmark stock index extended two
weeks of losses as reports Aug. 3 showed U.S. employers added
fewer jobs in July and service industries growth slowed. The Bank
of Korea the same day said it will restrict companies from
borrowing in foreign currencies to stem gains in the won that
threaten exporter's profits.


Read more at Bloomberg Currencies News

South Korean Stocks Advance; Steelmakers Gain on UBS Call, Samsung Climbs

(Bloomberg) -- South Korean stocks climbed for the
first time in three days. Steelmakers gained after Moody's
Investors Service said it put Posco's debt rating on review for
a possible upgrade.

Posco shares yesterday closed 10 percent lower than the
July 24 record of 567,000 won.


Read more at Bloomberg Stocks News

South Korea to Act on Currency When Necessary, Finance Minister Kwon Says

(Bloomberg) -- South Korean authorities will take
action to curb gains in the nation's currency when necessary,
Finance Minister Kwon Okyu said.

``We are ready to take any action if there is a speculative
attack on the currency,'' Kwon told CNBC from Sydney today. ``The
currency has appreciated more than 40 percent since 2002 so it has
affected the Korean economy.'' Kwon is in Australia to attend this
week's annual meeting of Asia-Pacific finance ministers.


Read more at Bloomberg Emerging Markets News

South Korea Stocks Rise, Set for Sixth Month of Gains; Doosan Leads Climb

(Bloomberg) -- South Korean stocks rose, set to
complete a sixth month of gains. Doosan Infracore Co. advanced
after Hyundai Securities Co. said the $4.9 billion acquisition of
an Ingersoll-Rand Co. unit will help the company expand into
developed markets.

``The acquisition will help it make inroads into markets like
the U.S.,'' said Cho Joon Hyuk, who helps manage $1.5 billion at
Nonghyup CA Asset Management in Seoul. ``Investors also like the
deal because the Doosan Group kept saying they were interested in
takeovers and product diversification, and now they're actually
showing us it's true.''


Read more at Bloomberg Stocks News

South Korea's Kospi Advances; Chemical Makers, Daewoo Engineering Climb

(Bloomberg) -- South Korean stocks gained. Chemicals
makers advanced after LG Chem Ltd. reported quarterly profit that
beat estimates, and Honam Petrochemical Corp. announced a joint
venture with Qatar to build a $2.6 billion chemical plant.

``LG Chem's earnings were good across all of its
businesses,'' said Oh Hyun Jung, who helps manage $10.9 billion
at Daehan Investment Trust Management Co. in Seoul. ``Honam's
contract has shown the market that they're really going through
with this, which will help cut costs and increase production
significantly.''


Read more at Bloomberg Stocks News

LG Household to buy Coca-Cola Amatil Korea unit

(Reuters) - SYDNEY, July 6 - Australian soft drinks firm Coca-Cola Amatil Ltd. said on Friday it had chosen LG Household and Health Care Ltd. as the preferred bidder for its South Korean operations.



Amatil, 35 percent-owned by Coca-Cola Co. , said the purchase price would be in the range of A$520 million to A$545 million , including debt, and it expected the deal to be completed in three months.


Read more at Reuters.com Bonds News

South Korean Stocks Gain More Than 1 Percent for Fourth Day; Samsung Gains

(Bloomberg) -- South Korean stocks advanced more than
1 percent for a fourth day. Samsung Electronics Co. gained on
speculation prices for dynamic random access memory, or DRAM,
will rise, helping improve earnings.

LG.Philips LCD Co. advanced after brokerages including
Citigroup Inc. said the company will turn to profit in the second
quarter.


Read more at Bloomberg Stocks News

Lone Star in talks to sell KEB: paper

(Reuters) - Lone Star sold on Friday a 13.6 percent stake in KEB and two South Korean firms for a total of $2.3 billion.




The fund scrapped a $7.3 billion deal last year to sell KEB to Kookmin Bank amid a legal dispute with regulators over its $1.2 billion purchase of a majority of KEB in 2003.


Read more at Reuters.com Business News

South Korean Won Climbs as Consumers Help Support the Economic Expansion

(Bloomberg) -- The South Korean won climbed after a
central bank report showed consumers were the most optimistic in
15 months in the second quarter.

Growth in Korea's gross domestic product is likely to
strengthen ``gradually'' over the rest of 2007 as domestic demand
picks up, the Organization for Economic Cooperation and
Development said June 20. The won rose to a one-month high June
20, two days after the Finance Ministry said consumers are
supporting the expansion in Asia's third-largest economy.


Read more at Bloomberg Currencies News

Goldman to sell S.Korea cable operator stake: paper

(Reuters) - The sale may include management rights from the family owners of the country's No. 2 cable TV operator, the daily said.




Three investment groups have handed in their bids, including South Korean investment fund MBK Partners, a private equity arm run by Australia's Macquarie Bank and South Korea's Shinhan Financial Group .


Read more at Reuters.com Mergers News

South Korean Stocks Fall; Korea Exchange Bank Declines on Share Sale

(Bloomberg) -- South Korean stocks fell. Korea
Exchange Bank dropped the most in six months after Lone Star
Funds sold a 13.6 percent stake in the company for 1.19 trillion
won ($1.3 billion).

Korea Electric Power Corp. slipped after UBS AG said
earnings may trail market estimates on higher coal prices.


Read more at Bloomberg Stocks News

South Korean Exporter Shares Drop, Led by LG Electronics; Chipmakers Gain

(Bloomberg) -- South Korean exporter stocks fell
after higher U.S. bond yields fueled concern borrowing costs
will rise, slowing down the world's biggest economy. LG
Electronics Inc. led declines.

Samsung Electronics Co. advanced after prices of dynamic
random access memory, or DRAM, jumped to a six-week high,
raising speculation chipmakers' profits will improve.


Read more at Bloomberg Stocks News

South Korean Construction, Shipbuilding Stocks Advance; Exporters Decline

(Bloomberg) -- Shares of South Korean builders
gained, led by Hyundai Engineering & Construction Co., after
Daewoo Securities Co. said the industry was entering a period of
``long-term growth.''

``The major builders are getting more of their sales from
abroad,'' said Chung Yun Sik, who oversees about $6 billion in
equities at Daehan Investment Trust Management Co. in Seoul. Also,
``domestic property-market policy will probably change for the
better, turning toward a more market-friendly stance.''


Read more at Bloomberg Stocks News

Asia Oil-Product Tanker Rates Trade Near Four-Month High on Korean Exports

(Bloomberg) -- The cost of shipping gasoline and
other so-called clean petroleum products in Asia remained close
to a four-month high as South Korean exports boost demand.

Rates to carry 30,000 tons of fuel on the benchmark route
from Singapore to Japan have gained 49 percent to Worldscale
253.64 from March 11, when they were at the lowest this year,
according to London's Baltic Exchange. Rates reached Worldscale
257.27 on May 17, the highest since Jan. 16.


Read more at Bloomberg Energy News

South Korea's Kospi Rises to Record; Posco, Steelmakers Lead the Advance

(Bloomberg) -- South Korean stocks advanced to a
record. Posco gained after Meritz Securities Co. raised its
price estimate for some steelmakers, saying regional prices for
the alloy are expected to climb following increases in China.

Samsung Electronics Co. fell after U.S. existing-home sales
unexpectedly dropped, heightening concern a housing slump will
damp consumer spending in the world's biggest economy.


Read more at Bloomberg Stocks News