SEOUL, Nov 29 (Reuters) - South Korean regulators see little chance of a full-scale global problem stemming from Dubai's debt crisis and expect a limited impact on local financial markets, the country's Financial Services Commission (FSC) said on Sunday.
"There's little chance that this problem would grow into a systematic risk on a global scale like the Lehman Brothers case did, according to the consensus," the FSC said in a statement following a meeting to discuss the Dubai debt problems.
On Friday, the Seoul stock market <.KS11> hit a four-month
closing low and the won
Financial and construction shares tumbled while local government bond prices soared on a massive flight to safely.
"South Korea has small exposure for related assets and the economy and financial markets have shown a solid performance," the FSC said.
The watchdog, however, added it would closely monitor for a possible spread of investor jitters and respond when necessary, in coordination with the finance ministry and the central bank. (Reporting by Rhee So-eui; Editing by Clarence Fernandez) ((soeui.rhee@thomsonreuters.com; +82 2 3704 5650; Reuters Messaging: soeui.rhee.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))