Korea skirmish: this attack is more serious than previous ones, as it is the first time N Korea has fired on to a civilian village. N Korea is likely trying to get more bargaining power by escalating tension in the peninsula before coming back to negotiations at the 6-party nuclear talks. Kim JungIl may also be seeking to consolidate the N Korean people after nominating one of his sons as successor, who is believed to lack military and political support…
Deutsche, Macquarie believe the market may have overreacted on this news, as the worst case scenario of war btwn the 2 Koreas is unlikely to play out. Both suggest accumulating on dips, as most episodes in the past showed that the mkt recovered quickly and investor sentiment was not derailed.
Spore stocks with plans for Korean Depository Receipts: Combine Will, China Gaoxian, UMS. STX PO is a Korean co. with secondary listing in Spore.
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