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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
South Korea's opposition leader, Lee, has expressed support for the return of short-selling in the stock market. This move comes as part of ongoing discussions about market regulations and investor protections in the country. The decision could have significant implications for the financial landscape.
South Korea's brief declaration of martial law unsettled markets, but swift government actions to restore order have mitigated the impact. The five-year credit default swap costs have decreased, the Kospi index selloff is slowing, and the won has regained most of its losses following President Yoon Suk Yeol's rapid reversal of the martial law decision.
A recent decline in South Korean bank stocks, driven by political turmoil, presents a buying opportunity, according to JPMorgan analysts. The gauge for Korean bank stocks dropped by over 9% in two days, with KB Financial Group falling 9.2% and Shinhan and Hana Financial Groups losing more than 4%.
Local stocks are expected to perform well as key Asian markets rise following record highs in US stocks, despite political instability concerns in South Korea and France. Investors are keenly awaiting Friday's monetary policy meeting, anticipating potential easing measures.
South Korean officials are urging calm in financial markets following a recent martial-law controversy involving President Yoon Suk Yeol, which has raised concerns about the nation's creditworthiness. Despite the turmoil, the Finance Ministry reported limited market impact and pledged to monitor conditions closely, especially with uncertainties surrounding the incoming U.S. administration. The opposition is preparing to impeach Yoon, who faces significant political challenges ahead.
Bank of Korea Governor Rhee Chang-yong expressed optimism that market volatility stemming from recent martial-law turmoil will gradually subside, provided there are no new shocks. He reassured investors about South Korea's economic outlook, stating that the central bank sees no immediate need to adjust growth forecasts. Rhee noted the won has regained some strength against the dollar following the martial law declaration by President Yoon Suk Yeol.
Asian stocks rose in response to gains in the US market, while the yen strengthened to around 150 per dollar. Expectations for a Bank of Japan interest rate hike diminished following a report questioning the likelihood of an increase. Meanwhile, South Korea's won fell as officials called for calm after a surprising martial-law decree.
South Korea's parliament has initiated impeachment proceedings against President Yoon Suk Yeol following his controversial announcement and quick reversal of martial law. The opposition Democratic Party, which holds a majority, requires support from eight lawmakers of the ruling People’s Power Party to achieve the necessary supermajority. Amid political turmoil, experts express mixed views on South Korea's investment climate, with some suggesting potential stability if Yoon resigns or is impeached.
Global stocks reached a record high following Jerome Powell's optimistic remarks on the US economy, which bolstered risk assets. While Asian shares rose, US equity futures remained stable after gains in major tech stocks. In Europe, the euro faced challenges amid political turmoil in France, and market expectations for a Federal Reserve rate cut later this month persisted.
Asia-Pacific markets showed gains following record highs on Wall Street, with the South Korean won strengthening 0.2% against the dollar after a martial law decree was lifted. The S&P 500 and Nasdaq Composite reached new closing highs, while Five Below's stock surged 11% after exceeding revenue expectations. In contrast, Synopsys shares fell over 6% due to a disappointing fiscal forecast. Investors are advised to remain diversified and view market corrections as temporary opportunities.
KOR
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06:54 05.12.2024
06:44 05.12.2024
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00:56 05.12.2024
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