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’Investors flee emerging markets as instability fears mount
Consider Iceland. Or Pakistan. Or Hungary. Or Ukraine. Or South Korea.
Investors are pulling money out of emerging market bond and equity funds, and it’s not hard to see why.
Funds dedicated to emerging markets endured one of their worst weeks on record in terms of outflows,
Korean won, stocks slide on S&P warning
South Korea’s won slumped the most since the IMF bailed out the nation in December 1997 and stocks fell at least 7% by Thursday afternoon, on concern turmoil in financial markets will make it difficult for banks to service debt,
Korea to hunt won speculators
The South Korean government said it will investigate whether a speculative force behind the won’s recent slide against the dollar following the currency’s plunge to a seven-year low. The won tumbled by up to 7% on Tuesday,
Why we care about the Korean won
Asian countries are increasingly looking to their currencies as a tool to fight inflation – and none more so at the moment than South Korea, where inflation last month hit a seven-year high of nearly 5 per cent — and the won on Tuesday recorded its largest one-day rise for three months.
Seoul pushes for KEB deal to be nullified
South Korea’s audit board said it had asked the Financial Supervisory Commission to nullify Lone Star’s purchase of Korea Exchange Bank after concluding that the US private equity fund’s acquisition of the lender was “illegal”.