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Strategies & Market Trends : Waiting for the big Kahuna

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To: Robert Giambrone who wrote (10009)	11/18/1997 10:15:00 PM
From: Haim R. Branisteanu	Read Replies (1) of 94695

FOCUS-S.Korea finance minister resigns, won plunge By Jane Lee SEOUL, Nov 19 (Reuters) - South Korean Finance Minister Kang Kyong-shik resigned on Wednesday over the country's deepening financial crisis as the won currency plunged to a fresh low. Separately, the central bank denied a newspaper report it had sought $20-30 billion in emergency loans from the Bank of Japan, and Seoul stocks fell more than two percent after the government delayed the announcement of market stabilisation steps. The won fell to its daily limit and a record low of 1035.50 to the dollar immediately after starting the day's trading from Tuesday's close of 1012.80. South Korea limits the dollar's daily movement to 2.25 percent up or down from the day's base mid-rate. Interpretation of news please?? S. Korea market of it's lows -3 points Haim

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