time now for an in-depth look at  the market news this afternoon and  
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 sewan professor of economics at ewa  
for that i'm joined on the line by dr  kim sewan professor of economics at ewa  

women's university professor kim good  afternoon thank you for coming on today
women's university professor kim good  afternoon thank you for coming on today

well oil prices as we heard just a minute ago  130 dollars a barrel overnight uh since coming  
well oil prices as we heard just a minute ago  130 dollars a barrel overnight uh since coming  

down from that level but that was the highest  uh in a very long time uh 2008 when oil hit  
down from that level but that was the highest  uh in a very long time uh 2008 when oil hit  

137 dollars a barrel u.s lawmakers it  seems though want to ban russian oil which  
137 dollars a barrel u.s lawmakers it  seems though want to ban russian oil which  

would send prices soaring even higher  though the byte administration it's not  
would send prices soaring even higher  though the byte administration it's not  

clear if they're completely sold on that idea  what's happening with oil prices professor  
clear if they're completely sold on that idea  what's happening with oil prices professor  

geopolitical factors are dominating  international uh oil uh recently dubai crude oil  
geopolitical factors are dominating  international uh oil uh recently dubai crude oil  

price increased up to 120 dollars per barrel level  from 92 dollars per barrel of the before russia's  
price increased up to 120 dollars per barrel level  from 92 dollars per barrel of the before russia's  

invasion into ukraine the price of oil jumped  more than ten dollars a barrel monday as the  
invasion into ukraine the price of oil jumped  more than ten dollars a barrel monday as the  

conflicts of inuklan uh deepened amid mounting  calls for harsher sanctions against russia  
conflicts of inuklan uh deepened amid mounting  calls for harsher sanctions against russia  

uh oil prices came under additional pressure after  libya's national oil company said on armed group  
uh oil prices came under additional pressure after  libya's national oil company said on armed group  

had shut down two crucial oil fields the move  caused the country's daily oil output to drop by  
had shut down two crucial oil fields the move  caused the country's daily oil output to drop by  

000 uh barrels per day uh and and u.s  house representative speaker nancy  
000 uh barrels per day uh and and u.s  house representative speaker nancy  

pelosi said the house was exploring legislation  to further isolate russia by banning the imports  
pelosi said the house was exploring legislation  to further isolate russia by banning the imports  

of this oil and energy products into u.s all these  mean a global shortages of oil and until the end  
of this oil and energy products into u.s all these  mean a global shortages of oil and until the end  

of the world in ukraine there is a possibility  that oil price reaches higher than we expect now  
of the world in ukraine there is a possibility  that oil price reaches higher than we expect now  

like over 140 dollars per barrel higher fuel costs  are devastating for korea which imports almost  
like over 140 dollars per barrel higher fuel costs  are devastating for korea which imports almost  

all this energy well that leads to higher prices  all around and all this uh it does seem uh  
all this energy well that leads to higher prices  all around and all this uh it does seem uh  

is the cause of wall street uh seeing stocks  plunge overnight um more than three and a half  
is the cause of wall street uh seeing stocks  plunge overnight um more than three and a half  

percent for the nasdaq with its tech companies  what's the story in the global equity markets  
percent for the nasdaq with its tech companies  what's the story in the global equity markets  

us markets were adjusted in a larger  scale to downside on monday uh the dow  
us markets were adjusted in a larger  scale to downside on monday uh the dow  

jones industrial average dropped 2.4 percent  and and the nasdaq composite also slumped 3.6  
jones industrial average dropped 2.4 percent  and and the nasdaq composite also slumped 3.6  

uh the dow jones industrial average made a 10  decline from january's high to close in correction  
uh the dow jones industrial average made a 10  decline from january's high to close in correction  

territory for the first time in two years as  surging oil prices heightened uh concerns about  
territory for the first time in two years as  surging oil prices heightened uh concerns about  

inflation and economic growth the tech heavy  nasa composite falling into contraction regime  
inflation and economic growth the tech heavy  nasa composite falling into contraction regime  

by declining to 20 below its november high last  year today's top benchmark in asia pacific region  
by declining to 20 below its november high last  year today's top benchmark in asia pacific region  

fell sharply too with japan's nikkei at 1.7 to  close its lowest since november 2020. the mainland  
fell sharply too with japan's nikkei at 1.7 to  close its lowest since november 2020. the mainland  

china's shanghai index and hong kong's hong  kong index was fell more than 1.5 percent today  
china's shanghai index and hong kong's hong  kong index was fell more than 1.5 percent today  

well korean stocks continuing to fall today as  well but not as much as some other markets shares  
well korean stocks continuing to fall today as  well but not as much as some other markets shares  

of samsung electronics closed below 70 000 won not  all the big names were down though and there were  
of samsung electronics closed below 70 000 won not  all the big names were down though and there were  

some bright spots like biopharmaceuticals  tell us about the domestic market  
some bright spots like biopharmaceuticals  tell us about the domestic market  

domestic markets have retreated over three  straight trading days including today  
domestic markets have retreated over three  straight trading days including today  

as you said i've been even with negative returns  for domestic markets today domestic markets did  
as you said i've been even with negative returns  for domestic markets today domestic markets did  

relatively well compared to other major markets  the benchmark cost be it we traded one point one  
relatively well compared to other major markets  the benchmark cost be it we traded one point one  

percent and costs have also lost 1.3 today as the  worst situation worsens in ukraine and longer than  
percent and costs have also lost 1.3 today as the  worst situation worsens in ukraine and longer than  

expected world is gaining momentum uh domestic  market is much affected by ukraine or like  
expected world is gaining momentum uh domestic  market is much affected by ukraine or like  

other markets most of large caps stocks traded  lower today samsung electronic lost 0.9 percent  
other markets most of large caps stocks traded  lower today samsung electronic lost 0.9 percent  

and the second largest capstock lg energy solution  also lost 0.9 today uh investors particularly  
and the second largest capstock lg energy solution  also lost 0.9 today uh investors particularly  

foreign investors let both of cosby and kostas  marquez retreat by about 550 billion won net sales  
foreign investors let both of cosby and kostas  marquez retreat by about 550 billion won net sales  

well the korean currency has been depreciating  somewhat sharply against the u.s dollar recently  
well the korean currency has been depreciating  somewhat sharply against the u.s dollar recently  

now the exchange rate above 1231 to the  dollar some expect that could reach 12.50  
now the exchange rate above 1231 to the  dollar some expect that could reach 12.50  

what's driving the exchange rate higher  and how might that affect the economy  
what's driving the exchange rate higher  and how might that affect the economy  

when geopolitical factors dominate financial  markets investors fear demands more u.s dollars  
when geopolitical factors dominate financial  markets investors fear demands more u.s dollars  

because the greenback is seen as a haven asset for  its status as a as the world reserve currency so  
because the greenback is seen as a haven asset for  its status as a as the world reserve currency so  

the world in ukraine is quickly raising the value  of u.s dollars over almost all currencies now the  
the world in ukraine is quickly raising the value  of u.s dollars over almost all currencies now the  

one dollar exchange rate has increased  about 41 compared to before ukraine were  
one dollar exchange rate has increased  about 41 compared to before ukraine were  

also there has been two months of trade deficit  until january in korea this was another factor  
also there has been two months of trade deficit  until january in korea this was another factor  

that raised one dollar exchange rate as  of now it is quite difficult to forecast  
that raised one dollar exchange rate as  of now it is quite difficult to forecast  

the path of one dollar exchange rate because of  uncertainties of ukraine worth but actually this  
the path of one dollar exchange rate because of  uncertainties of ukraine worth but actually this  

higher one dollar exchange rate is a good news  to boost up korean export which is the strongest  
higher one dollar exchange rate is a good news  to boost up korean export which is the strongest  

driving force to recover korean economy after  a pandemic right well finally professor the  
driving force to recover korean economy after  a pandemic right well finally professor the  

price of gold continues to rise uh and just  on the cusp of two thousand dollars an ounce  
price of gold continues to rise uh and just  on the cusp of two thousand dollars an ounce  

now the highest it's been since about mid-2020  what might we expect to see happen with gold  
now the highest it's been since about mid-2020  what might we expect to see happen with gold  

uh gold price actually has been pretty  stable and weak uh before the ukraine work  
uh gold price actually has been pretty  stable and weak uh before the ukraine work  

but as we talked about investors fear on ukraine  world rallies all safe haven assets including gold  
but as we talked about investors fear on ukraine  world rallies all safe haven assets including gold  

on monday gold rose 1.5 percent to 1994 per tri  owns its highest settled value since august 2020  
on monday gold rose 1.5 percent to 1994 per tri  owns its highest settled value since august 2020  

before the ukraine were gold was traded around  1880 uh dollars per trillion but its price moved  
before the ukraine were gold was traded around  1880 uh dollars per trillion but its price moved  

up by 114 dollars per triumph in less than three  weeks since it is a very difficult to expect  
up by 114 dollars per triumph in less than three  weeks since it is a very difficult to expect  

the world in ukraine the gold price will be  more volatile until the world settles down  
the world in ukraine the gold price will be  more volatile until the world settles down  

uh it does seem that way professor we'll have  to leave it there for today though thank you  
uh it does seem that way professor we'll have  to leave it there for today though thank you  

as always for sharing your insights with us  we appreciate it thank you very much kevin
as always for sharing your insights with us  we appreciate it thank you very much kevin