1. Wide of Korea Exchange with computer screen
2. Close-up of screen reading KOSPI
3. Medium of screen
4. Close-up of screen
5. Close-up, tilt-down of graph
6. Medium of screen
7. Close-up of moving screen
8. SOUNDBITE: (Korean) Lee Rommel, Manager of Retail Research Department of Goodmoring Shinhan Securities:
„There’s a point of view that US economic stagnation could cause greater South Korea’s economic slump from now on, so there’s great possibility that market will fall for the next year and a half.“
9. Medium of KOSPI (written in Korean) screen
10. Medium of employees
11. Wide of office in Korea Exchange
12. Various of screens
South Korean stocks opened lower on Friday amid lingering global financial instability sparked by the collapse of US investment bank Lehman Brothers Holdings Incorporated.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.32 points, or 0.22 percent, to 1,498.31 in the first 15 minutes of trading, according to Yonhap news agency.
On Thursday, South Korean markets rose on reports of a 700 (b) billion US dollar plan to bail out financial companies, but the deal broke down on Thursday night amid a revolt by the Republicans.
The conservatives are now proposing an alternative plan to rescue shaky financial institutions – a package of tax breaks and a new government-sponsored insurance programme for mortgage-backed securities.
Speaking in Seoul, Lee Rommel, a manager at Goodmoring Shinhan Securities, said the financial slowdown could be here to stay.
„There’s a point of view that US economic stagnation could cause greater South Korea’s economic slump from now on, so there’s great possibility that market will fall for the next year and a half,“ he said.
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