Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, Professor of Economics at Ewha
Womans University.
Professor Kim, good afternoon.
Thanks for coming on today, Professor.
When the U.S. markets reopened on Tuesday they started out with a big decline.
The Dow pared those losses but was still down.
Gains on the S&P 500 and the Nasdaq, though.
What's the story in the global markets?
Korean
stocks
today a bit of a mix.
The KOSPI started lower but then the slide accelerated through the end of the session.
Carmakers continue to go down on the ceoncerns about recession.
Tech had the few bright spots.
And of course the exchange rate today touching a 13-year high.
Tell us about the domestic market.
Oil prices, Professor.
They've been so high all this time but have now come down for the first time in a couple
of months to below a hundred dollars a barrel.
Ironically on concerns about a global economic slowdown whose causes are related to high
oil prices.
Citibank Group in the U.S. sees Brent crude, by the end of the year, coming down to 65
dollars a barrel.
What do you see happening in the oil market?
Finally, Professor, Korea's foreign
exchange reserves were down last month for a fourth month in a row.
Declining by around 9-point-4 billion dollars.
The stronger dollar making assets in other currencies lose value.
This was the biggest one month decline since the 2008 financial crisis.
What does it mean to have FX reserves going down
like this?