... mungkin ini sedikit bisa menjawab keingitahuan mbah mengenai won 
yg melemah trus .... sebenarna sich hasil research na panjang 
lebar ... tapi ane cut aja biar gak capek baca na ....



South Korea: Down But Not Out

The sluggish performance of the KOSPI Index in 2008 has largely been 
due to the weakening Korean won. However, the South Korean market 
remains an attractive prospect, as Eddy Wong explains. 

........... 

Will There Be A Rate Hike?

At the June 2008 meeting, the Bank of Korea kept interest rates at 
5%, the highest level in 7 years. The governor said that their rate 
policy is always open for a rate cut or hike, as it is reviewed 
every month, taking into account the economy and inflation. In 
addition, he also mentioned that inflation may return to normal 
levels after it is absorbed in the economy. Although the risk of 
inflation seems to be greater than the downside risks to growth, the 
Bank of Korea appears determined not to hike benchmark interest 
rates to control inflation. In fact, they are hoping lower oil 
prices would reduce inflationary pressures.

Since inflation is driven by high oil prices, a stronger currency 
can actually help to curb inflationary pressures. However, a current 
account deficit has placed pressure on the Korean won. Currency 
depreciation is normally the consequence of a deficit. In fact, the 
Korean won has depreciated 8.1% and 12.8% against the USD and SGD 
respectively. Besides the current account deficit, a huge foreign 
investment outflow also led to a weakening of the Korean won. On a 
year-to-date basis as at 22 July, there has been a US$25 billion net 
outflow of foreign investment monies from the Korean equities 
market. It means that a lot of foreign investors are selling their 
Korean assets, hence the steep depreciation seen in the Korean won. 

Since a stronger Korean won can help to lower the import bills and 
hence, imported inflation, the central bank is giving hints that it 
may take action in the exchange market in order to "stabilise" the 
Korean won. According to the Finance Ministry's International 
Finance Bureau, the government would like to take continuous steps 
to stabilise the won, which implies that the government may 
intervene in currency markets by selling foreign currencies to 
support the Korean won. In fact, the government intervened to boost 
the Korean won in the second week of July 2008. The Korean won 
appreciated 5% against the US dollar and was trading at 1000.5 won 
against US$1 on 11 July 2008. However, if the Korean won continues 
to depreciate even after the intervention by the central bank in the 
currency markets, a rate hike would be probable. 

:)







--- In obrolan-bandar@yahoogroups.com, "jsx_consultant" <jsx-
[EMAIL PROTECTED]> wrote:
>
> --- In obrolan-bandar@yahoogroups.com, "conx_2003" <conx_2003@> 
> wrote:
> >
> > Mbah, tumben hari ini banyak posting, ada apa yah?
> > 
> > pertanda alam apakah ini? ehehhehehehe :P
> > 
> > 
> 
> Banyak posting karena ada 'alert' yg mau disampaikam...
> 
> Kalo soal minyak, ini udah dibahas ama semua orang, jadi semua
> member disini SUDAH tahu risk and reward maen saham Commodity.
> Jadi untung dan rugi sudah merupakan keputusan masing2.
> 
> Tapi kalo soal WON ini sepertinya BELUM dibahas, jadi embah
> berusaha menyampaikan adanya krisis moneter yg terjadi di
> Korea. Penyebab krisis ini embah belum tahu. Penurunan WON
> karena kenaikan USD adalah wajar, tapi penurunan WON yg
> luar biasa dan kepanikan pasar sudah mirip krisis moneter.
> 
> Dulu krisis Thailand (Bath) menyebar kenegara lain termasuk
> Indonesia. Jadi ada baiknya embah beritahu untuk 
> berjaga-jaga.
> 
> Dulu kan Thailand diserang si Soros, lalu krisisnya 
> merembet ke Indonesia karena Indonesia terlalu banyak
> utang luar negrinya.
> 
> Ada yg tahu kenapa Korea terkena krisis moneter ?.
>


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