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Home » N. Korea's provocation unlikely to impact S. Korean market but global uncertainties could

N. Korea's provocation unlikely to impact S. Korean market but global uncertainties could

연휴 끝난 증시 북한 변수…“대외 악재가 더 심각
With lingering uncertainties at home and abroad,… South Korean shares were in for a hit,… on the first day of trading after the long holiday weekend.
While officials say North Korea’s latest provocation is unlikely to have much of an impact on the local market,… external risks could.
Kim Min-ji takes a closer look.
The South Korean market was no exception to the global market downturn,… feeling the impact of a series of internal and external risks that emerged over the extended holiday period.
On the domestic front, North Korea launched a long-range missile on Sunday,… and in response South Korea suspended all operations at the inter-Korean Kaesong Industrial Complex — a major source of income for the communist state.
While the general consensus is that the North’s latest provocation had a limited impact on the local financial market,… the poor health of the global economy is dealing it a significant blow.

“In Seoul, the benchmark KOSPI closed sharply lower,… shedding almost three percent on its first day of trading following the Lunar New Year holiday.”

The Korean won closed at 1-thousand-202 won against the U.S. dollar,… weakening by roughly three-tenths of a percent.

“The local bourse hasn’t been able to avoid the global market volatility seen during the holiday break. There’s growing negative sentiment against global stimulus policies as they haven’t been able to prop up the economy.”

Major stock markets around the world, especially Japan, have recently lost ground.
The benchmark Nikkei lost over seven percent over two days.
On Thursday,… Hong Kong’s Heng Seng, which reopened after the holiday break, also shed more than four percent at one point.
In addition,… there’s been lingering uncertainties stemming from China’s slow growth,… as well as an ongoing decline in global oil prices.
South Korea’s finance ministry said it’s keeping a close eye on local and global markets,… and vowed to convene a market review meeting every day until conditions show signs of stabilization.
Kim Min-ji, Arirang News.

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