South Korean Stocks Climb for Third Day; Kookmin, Samsung Electronics Gain

(Bloomberg) -- South Korea's stocks rose for a third
day after North Korean leader Kim Jong Il, in a news report,
signaled the Communist state is ready to begin dismantling its
nuclear program. Kookmin Bank and Samsung Electronics Co. gained.

``The direct beneficiary will be the Korean market, as
foreign investors may turn more positive,'' said Jo Dong Hyuk,
who oversees $1.9 billion in global equities at Korea Investment
Trust Management Co. in Seoul. ``The geopolitical risk was the
biggest reason for the `Korea Discount.'''


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Lone Star in talks with several to sell KEB: paper

(Reuters) - Lone Star sold on Friday a 13.6 percent stake in KEB and two South Korean firms for a total of $2.3 billion.




The fund scrapped a $7.3 billion deal last year to sell KEB to Kookmin Bank amid a legal dispute with regulators over its $1.2 billion purchase of a majority of KEB in 2003.


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Asian Stocks Fall in U.S. Trading on Higher Bond Yields; Kookmin Declines

(Bloomberg) -- Asian stocks dropped in U.S. trading
for a third day after a jump in bond yields fueled speculation
the Federal Reserve will raise interest rates. Kookmin Bank and
Mitsubishi UFJ Financial Group Inc. fell.

The Bank of New York Co.'s Asia ADR Index, tracking the
region's American depositary receipts, tumbled 0.8 percent to
163.83, the biggest decline in two weeks. The measure has
retreated 1.6 percent since setting a record June 4.


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