Financial Markets are Reviving

Korean financial markets are reviving. Stock prices are abruptly going up. The value of the won is rising again. And the level of interest rates continue to fall.
Domestically, the first round of restructuring for finance companies and big companies after the IMF bail-out, has been completed somewhat successfully.
And internationally, the trend of a strong U.S. dollar has faltered recently and the Japanese yen has strengthed.
As of now, nobody knows whether the strong yen will continue to rise or not. Now experts in international F/X markets see the current rise of the Japanese yen as not reflecting optimism for a Japanese economic revival followed by the Japanese government's boosting economic packages but the pessimism of the entire global economy including the U.S. economy.
Nonetheless, Korean financial markets are now enjoying the long awaited upward surge.
As of October 12, stock prices skyrocketed by 46.95 points (15.4%) for the last three recent trading days, closing at 352.17 points, 13.74 points higher than the previous day. This is the highest in 80 days since July 22.
The rise can be attributed to the recent continuous fall in the level of interest rates and the rise of the Japanese yen. As the Japanese yen rises, Korean exporters are more competitive.
On the day, the yield on three year due debentures recorded an all time low again at 10.25% and the overnight call interest rate fell to 6.99%.
The recent rise in the won's value against the U.S. dollar continued for the day. The won rose to 1,319 won (14 won more than yesterday) to the dollar.