Ssangyong Motor Co., Ltd.

Overnight US stocks broadly declined after new figures from the Federal Reserve showed that consumer credit dropped unexpectedly in February. The sharp plunge in consumer credit was an indication that households are still in a cautious frame of mind despite U.S. economic recovery. Asian markets opened lower this morning following the drops in Wall Street. But Wednesday most Asian stocks gained, helped by stronger oil prices and upbeat corporate earnings. Hong Kong's Hang Seng surged 1.8 per cent, while China's Shanghai Composite fell 0.3 per cent as real estate shares were hurt by fears of further measures to cool the property market. Japan's Nikkei 225 posted a 0.1 per cent rise and South Korea's Kospi Composite finished nearly unchanged.

A Korean private equity fund has proposed to purchase 51 per cent stake in carmaker Ssangyong Motor (SEO:003620) for KRW300 billion-KRW400 billion, said a Korean media.

Yesterday Asian markets ended lower after big overnight losses on Wall Street and on concerns about European banks. Tokyo's Nikkei index reached its lowest since October. Shanghai Composite saw a massive 4.7% fall in a single day. Hong Kong's Hang Seng Index ended up 0.6% and Taiwan's Taiex gained 0.2%.

Asian markets opened higher today after Wall Street's gains. Yesterday Asia's major indexes closed broadly weaker on the further gloomy economic data of the US. Tokyo and Shanghai markets were slightly down while Hong Kong stocks gained 0.9% on hope of Chinese government's support to the mainland shares.