Global investors are making a beeline for South Korea. The local currency, the won, has risen to a six-year high of 1,020 to the US dollar, while equity investors snapped up over half a billion dollars of local stocks in the last week of May alone.
You can see why. The global recovery remains historically tepid and uneven, but economies in the West are showing signs of building momentum, as Josh Noble points out in the FT, and so Asia’s more export-driven markets are in the spotlight.
Korea, where exports make up over half of GDP, is highly exposed to [...]
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