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

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.
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