The UN is warning that flooding in Southeast Asia may result in food shortages.Rice paddies have been devastated in Thailand,Cambodia and Laos.In Thailand and Cambodia,12.5% of the rice has been lost.Thailand,the world's largest rice exporter,may lose up to 25% of its harvest.These losses may cause a 17% price increase.
The Stock Exchange of Thailand is closed today,Monday,for the Chulalongkorn Holiday,which honors the death of a revered king.
In South Korea,the Pohang Iron and Steel Company,or POSCO,has reported a 75% drop in profits.This is because of both less demand and lower steel prices.POSCO is the world's third biggest steel producer.
Taiwan's Yani Tseng won the inaugural LPGA Taiwan Championship on Sunday,shooting a six under par 66 at the Sunrise Golf and Country Club in Yang Mei.It was Tseng's seventh LPGA Tour win of the season as she was cheered on by a large crowd of supporters in her native land.She donated 100,000 dollars of her prize to Taiwan junior golf.
In Bangkok on Monday,it was 88F under scattered clouds.The wind was NE at 6 mph,and the humidity was 58%.
POSCO(PKX)
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