That didn't stop South Korean stocks from going through the roof Monday. Seoul's Korea Composite Stock Price index racked up its largest single-day percentage gain, jumping 25.98 points, or about 7 percent, to close at 385.80. Rallies on Saturday (yes, this is a market that trades on Saturday) and Monday more than undid Friday's plunge, when the Composite sank 7 percent to a 10-year low. What caused the turnaround? The catalyst seems to have been a series of statements over the weekend by South Korean leaders, who vowed to "fully implement the agreement reached with the IMF" - even as students marched in Seoul to protest the "humiliating" bailout.
The coffers are emptying fast in South Korea, and the country has begun appealing to its economic saviors - the U.S., Japan and the International Monetary Fund - to step up the pace of getting money into the country, reports Money Daily. The only problem is that Seoul may not get the dough; Tokyo and Washington aren't convinced the country needs an immediate infusion.