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COPYRIGHT 2003 Asia Pulse Pty Ltd
Business in Asia on June 30, 2003. A summary prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, market intelligence and business opportunities:
KOREAN RAILROAD STRIKE TO HAVE NEGATIVE IMPACT ON BOURSE
SEOUL - The ongoing strike by South Korean railroad workers is expected to have an extremely negative impact on the domestic stock market, local brokerage houses predicted today. In particular, foreign investors, who have powered a recent rally, may change their net-buy positions if the walkout drags on, they warned. Meanwhile, with railroad workers staying away from their jobs for three consecutive days, cement companies saw their share prices fall in unison. The cement industry depend heavily on trains to transport its products.
JAPAN'S DAIFUKU TIES UP WITH ABB IN DISTRIBUTION SYSTEMS
TOKYO - Daifuku Co. (TSE:6383) has formed a business tie-up with Swiss firm ABB Ltd. in the field of distribution systems. Under the agreement, Daifuku's automated warehouses and peripheral vehicles will be combined with ABB's distribution management software and robot technology, and will be sold to major European supermarkets and autoparts manufacturers. ABB is strong...
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