South Korean stocks, currency dive amid deeper US tariff turmoil

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The story "South Korean stocks, currency dive amid deeper US tariff turmoil" was covered 8 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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South Korean stocks, currency dive amid deeper US tariff turmoil - Korea Economic Daily

Quick Summary:

The South Korean stock market logged its biggest daily loss of more than 5% in eight months on Monday, joining its Asian peers bruised by stock panic selling on growing economic concerns fanned by greater US tariff shockwaves.

Meanwhile, the US Federal Reserve has limited options, primarily keeping a wait-and-see approach for the time being, as it requires time to assess the effects of US tariffs on inflation in the world's leading economy.“Considering that Korea exports a significant amount of intermediate goods, Korea is one of the markets foreigners tend to avoid first,” said Chung Yong-taek, a senior analyst at IBK Securities Co.

According to Eugene Investment & Securities Co., the odds of a rebound in the Kospi index were 87% about three months after the V-KOSPI topped 40 and 100% about six months later.“The market has always regained the ground after a period of severe undervaluation,” said Kim Hak-kyun Kim, head of research at Shinyoung Securities Co.