Mlava

In August, we reported that South Korea’s forex reserves had shrunk more than $10 billion to brush a 15-month low. One explanation for the drop off was that officials were selling off their holdings in hopes of stabilizing the won and steadying inflation. Recently, however, the won reached a four-year decline, making it one of [...]

While the Lehman Brothers bankruptcy announcement has sent shockwaves rumbling through the U.S. financial community, its impact on the Asian financial markets could be less than earth shattering, despite Lehman’s $1.6 billion in outstanding loans from seven Japanese banks, including Aozora Bank, Mizuho Corporate, Shinsei, the Bank of China, and a Hong Kong-based unit of [...]