South Korea's December PMI rises to 50.1 from 48.2 previously, the first time in expansion...

|By:, SA News Editor
South Korea's December PMI rises to 50.1 from 48.2 previously, the first time in expansion territory since May. Yesterday, the country reported an unexpected 5.5% Y/Y decline in December exports. The government blames the fall on fewer working days during the month, but there's also the won, the strongest 2012 performer among major Asian currencies - up 7.7% vs. the greenback. South Korea Index Fund (EWY) +21.2% in 2012.