South Korea's Shares Fall, Led by Posco, Kookmin, Samsung; Hynix Advances

(Bloomberg) -- South Korean stocks fell, led by
Posco, and Kookmin Bank, on concern losses in the U.S. mortgage
market may slow the world's biggest economy.

Samsung Electronics Co. also declined after a power outage
at some production lines of the world's second-largest chipmaker.


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South Korean Manufacturers' Confidence Rises For First Time in Four Months

(Bloomberg) -- Confidence among South Korean
manufacturers for August increased for the first time in four
months, suggesting companies may ramp up production and spur
growth in Asia's third-largest economy.

An index of manufacturers' expectations for August rose to
89 from 86 for July, according to a poll of 2,929 companies
released by the Bank of Korea in Seoul today. The index began
in January 2003 and has always had a reading of less than 100,
indicating pessimists outnumber optimists.


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UPDATE 1-Doosan to buy Ingersoll units for $4.9 bln

(Reuters) - The biggest ever overseas acquisition by a South Korean
company will make Doosan one of the world's top seven
construction equipment makers, the South Korean firm said.




Ingersoll signed a definitive agreement to sell Bobcat, the
world's top compact construction equipment firm, and its utility
equipment and attachment businesses, which in 2006 together
generated $2.6 billion in sales and $370 million in operating
profits.


Read more at Reuters.com Mergers News

South Korea's Stocks Fall on U.S. Housing Concern; Hyundai Heavy Declines

(Bloomberg) -- South Korean stocks fell for the
third day. Kookmin Bank led declines on concern a deepening U.S.
housing slump will damp the world's biggest economy and prompt
investors to shun riskier assets.

The Kospi index dropped 17.86, or 1 percent, to 1,865.36 as
of 9:25 a.m. in Seoul. Stocks plunged on July 27 by the most in
more than three years, wiping out $46 billion in market value.


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South Korean Won Falls Most in a Month; Finance Minister Predicts Decline

(Bloomberg) -- The South Korean won declined the
most in more than a month after Finance Minister Kim Sung Jin
said the currency is poised to drop from its strongest since
1997 as the current-account surplus shrinks.

``The won is overly highly valued and that's the view
shared among the government, the Bank of Korea,'' and other
research agencies, Seoul-based Kim said in a phone interview
yesterday. ``The chance of currency depreciation is greater than
for appreciation.''


Read more at Bloomberg Currencies News

Hyundai Heavy Unit to Purchase 1 Percent Posco Stake `to Improve Returns'

(Bloomberg) -- Hyundai Samho Heavy Industries Co.,
a private unit of the world's largest shipbuilder, will take a 1
percent stake in Posco, the South Korean steelmaker that is
shoring up its defenses against a possible takeover bid.

The company's board decided July 9 to buy 872,000 shares in
Asia's third-largest steelmaker to boost returns on capital, it
said in a regulatory filing July 16. At the close of trade that
day, the Posco stock was worth 484 billion won ($527 million).


Read more at Bloomberg Emerging Markets News

Asian Currencies Gain as Stock Rally Draws Investors to Emerging Markets

(Bloomberg) -- Asian currencies, including
Indonesia's rupiah and the South Korean won, gained on
speculation a regional stock rally will increase demand for
emerging-market assets.

Investors sold yen to fund higher-yielding currencies in
so-called carry trades, said Catherine Tan, head of emerging
markets at Forecast Singapore Ltd. A surge in U.S. stocks
yesterday eased concern a housing slump will stunt export-led
economic growth in Asia.


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Asian Stocks Resume July Rally on Economic Growth, Oil; Samsung Climbs

(Bloomberg) -- Asian stocks resumed their July rally
on signs economic growth in Japan and South Korea is accelerating
and as crude oil traded near a 10-month high.

Japan's Komatsu Ltd. gained the most in a week after a
government report showed machinery orders rose more than forecast
in May. Samsung Electronics Co. led the Kospi index to a fourth
straight high after the commerce ministry raised its forecast for
South Korean exports. BHP Billiton Ltd., Australia's largest oil
explorer, climbed for an eighth day.


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South Korea's Stocks Gain for a Fourth Day; Samsung Rises on DRAM Prices

(Bloomberg) -- South Korean stocks advanced for a
fourth day, led by Shinsegae Co., after local consumers became
the most confident in 15 months, adding to speculation increased
spending will extend the longest economic expansion in a decade.

Shares also gained after Woori Investment & Securities Co.
lifted its estimate for the Kospi index, citing faster earnings
growth and rising local demand for stocks. Samsung Electronics Co.
paced the climb.


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Cattle Futures Gain for Second Day on South Korea Imports; Hog Prices Fall

(Bloomberg) -- Cattle rose for a second-straight
session in Chicago as the restoration of South Korean beef
imports from the U.S. spurred cattle buying. Hog futures fell.

South Korea resumed purchases this week from six plants
owned by Tyson Foods Inc. and Cargill Inc., the two-largest U.S.
beef packers. The Asian country banned beef from the plants on
May 29 after receiving shipments intended for U.S. consumption.
South Korea was the third-largest importer of U.S. beef until a
mad-cow case in 2003.


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South Korea's Won Strengthens on Consumer Confidence; Bonds Little Changed

(Bloomberg) -- The South Korean won had the
strongest close in more than a month after a central bank report
showed consumers were the most optimistic in 15 months in the
second quarter. Bonds were little changed.

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 after the finance
ministry said consumers are supporting the expansion in Asia's
third-largest economy.


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South Korea's Kospi Index Drops on U.S. Subprime Concern; Hynix Declines

(Bloomberg) -- South Korean stocks dropped for a
second day after the near collapse of a Bear Stearns Cos. hedge
fund fueled concern the impact from faltering U.S. subprime
loans will be worse than expected. Hynix Semiconductor Inc. fell.

The Kospi index slid 3.27, or 0.2 percent, to 1767.71 as of
9:30 a.m. in Seoul. The Kosdaq declined 0.3 percent to 807.00.
Kospi 200 futures expiring in September retreated 0.1 percent to
225.75, while the underlying index slipped 0.2 percent to 224.62.


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UPDATE 3-Lone Star sells KEB stake for $1.28 bln-source

(Reuters) - The Dallas-based fund is cashing in on some of its other
investments in South Korea, with a source close to Lone Star
saying it could announce plans to sell two other South Korean
units -- Kukdong Engineering and Construction and leasing firm
STARLease -- as early as Friday.




Lone Star is likely to reap another 600 billion won from those assets, which could take the total it has
raised from sales in South Korea to around $1.9 billion.


Read more at Reuters.com Mergers News

South Korea's Kospi Index Gains, Led by Hyundai Heavy; Hynix Declines

(Bloomberg) -- South Korean stocks rose. Hyundai
Heavy Industries Co. gained after Good Morning Shinhan Securities
Co. said shipyards will benefit from increasing orders for bulk
carriers.

Hynix Semiconductor Inc. dropped after the Nikkei English
News reported that Japan's Toshiba Corp. plans to boost
production of flash-memory chips by 70 percent.


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South Korean Stocks Snap Eight-Day Rally; Samsung, Hyundai Heavy Decline

(Bloomberg) -- South Korean stocks fell, snapping an
eight-day climb and dragging the key index down from a record.
Samsung Electronics Co. slid on concern rising global interest
rates will curb consumer spending and corporate profits.

Stocks also declined as some investors took advantage of
recent gains to sell. Posco and Hyundai Heavy Industries Co.
paced the retreat.


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South Korean Stocks Gain; LG.Philips Advances, Samsung Electronics Slides

(Bloomberg) -- South Korean stocks rose, lifting the
Kospi index to a record. LG.Philips LCD Co. gained after CJ
Investment & Securities Co. said earnings will improve ``in
earnest'' from the second quarter on rising panel prices.

Samsung Electronics Co. dropped after technology-industry
researcher iSuppli Corp. said global sales of dynamic random
access memory, or DRAM, will slow.


Read more at Bloomberg Stocks News