The so-called Trump shock wave shook our financial market today as well.
The KOSPI rebounded for the first time in five days, but Samsung Electronics closed the market at 49,900 won, becoming "40,000 electronics" for the first time in four years and five months.
The won-dollar exchange rate is still around 1,400 won even though the foreign exchange authorities have intervened verbally again since April, fearing excessive volatility.
I'll connect you to a reporter for more information.
Reporter Lee Hyung-won, the exchange rate is not falling from the 1,400 won range, right?
[Reporter]
The won-dollar exchange rate started today above 1,400 won.
It was 3 won lower than yesterday, but it started at 1403.6 won.
Yesterday, it exceeded 1,411 won during the day, the highest in two years.
As of 4:30 p.m., it was trading at 1,405.1 won, down 1.5 won.
It continues to exceed the psychological Maginot line of 1,400 won.
[Anchor]
In the end, the foreign exchange authorities started oral intervention, right?
[Reporter]
Yes, a meeting on macroeconomic and financial issues was held today presided over by Deputy Prime Minister Choi Sang-mok.
At this meeting, there were remarks that they would take active measures against currency instability.
Choi expressed concern that uncertainties related to global economic growth, prices and monetary policy are present along with changes in the policy stance of the new U.S. government.
In response, he asked for active market stabilization measures to be implemented quickly if financial and foreign exchange market volatility expands excessively.
It gave a message that if the exchange rate continues to surge, it will intervene in the market.
This oral intervention is the first in seven months since April, when the exchange rate rose below 1,400 won due to political instability in the Middle East.
However, even after oral intervention, the exchange rate remains unchanged at around 1,400 won.
[Anchor]
Why has the exchange rate instability grown to the point that the government has stepped up?
[Reporter]
This is because the Trump administration, which will be officially launched in January next year, is advocating U.S. priority.
As it has vowed to raise trade barriers, including higher tariffs,
This is because trade disputes and high price concerns have increased due to the implementation of these policies.
If this happens, the U.S. will also have no choice but to adjust the pace of the base rate cut.
The won's price is falling due to this uncertainty.
In addition, the "Trump Trade," which attracts investments in dollars, U.S. stocks, and virtual assets, which are expected to benefit from Trump's presidency, is also a negative factor.
[Anchor]
Because of this, our stock market was on a downward trend, so how was it today?
[Reporter]
The KOSPI continued to rise and fall after starting higher.
It closed at 2,418.86, up just 0.07% after reducing its gains in the afternoon.
It only rebounded in five days, but failed to reverse the sell-off by foreign investors.
Samsung Electronics, the No. 1 market capitalization, rose to the KRW 50,000 range during the day on low-priced purchases, but it lacked a sense of hindsight.
Eventually, it fell for five consecutive days, falling to 40,000 electronics in four years and five months.
KOSDAQ also started with an upward trend, but it didn't continue the atmosphere.
It closed at 681.56, down 1.17% from yesterday.
So far, I'm Lee Hyungwon of YTN on the Korea Exchange.
※ 'Your report becomes news'
[Kakao Talk] YTN Search and Add Channel
[Phone] 02-398-8585
[Mail] social@ytn.co.kr
[Copyright holder (c) YTN Unauthorized reproduction, redistribution and use of AI data prohibited]
Economy
More- Overseas Travel Card Stolen Warning "Set safe in advance!"
- I changed the sign and refurbished it.Construction Industry Brand Differentiation Competition
- November 22nd is Kimchi Day... "Supporting sustainable growth of the kimchi industry."
- Binggrae, division of personnel in May next year... "transition to holding company system"