Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Mr. Daniel Yoo, Global Strategist at Yuanta Securities.
Mr. Yoo, good afternoon.
Thank you for making time today.
Let's start with yesterday's gains on Wall Street.
The S&P 500 is still flirting with a bear market, but expectations higher for earnings
at JP Morgan for one, and talk of Biden lifting tariffs on China.
There's still a lot of talk, though, about the market having much, much farther to fall.
Then again, the Dow hasn't had eight weeks down in a row, like it has now, in almost
a hundred years.
What drove that rally on Monday and what do you see happening in the global markets?
Today, Korean stocks closed more than 1 percent lower.
Part of that, it seems, according to the Bank of Korea,... expectations for
inflation among consumers now at 3-point-3 percent, which is the highest in almost a
decade.
Financial shares were a bright spot in the market today, though.
Tell us about the domestic market.
Now, the exchange rate has come down a lot since the peak about a week and a half ago.
The Korean won down from 12-90 to the dollar... to the 12-60 range.
There are expectations following the summit over
the weekend of
a possible currency
swap deal with the U.S., which could help.
What's driving
the recovery in the Korean won?