KOSPI and KOSDAQ weakened for 2nd day...The exchange rate is 1,450 won.

KOSPI starts at 2,429.63 down 0.26%...Drop more than 1%
KOSDAQ rose 0.06% to 684.79 and fell more than 1% after the start.}
Continues Impact of U.S. FOMC's 'Harmic Rate Cut'

[Anchor]
Our stock market, which plunged in the wake of the U.S. FOMC's "hawkish interest rate cut," has been weakening for two consecutive days.

The won-dollar exchange rate, which exceeded 1,450 won, has not easily fallen below 1,450 won.

Let's connect reporters to take a closer look at the financial market news.

Reporter Ryu Hwan Hong, what is the current stock price like?

[Reporter]
Both the KOSPI and KOSDAQ indexes are seeing a growing decline.

In the stock market, the Kospi opened 0.26 percent lower at 2,429.63.From the beginning of chapter

, the drop has deepened by more than 1%.In the early part of the

market, individuals are making net purchases alone, but foreigners and institutions are making net sales together, which is a difficult situation.

On the KOSDAQ market, the tech-heavy KOSDAQ index started at 684.79, up 0.06 percent.

However, it has fallen straight away, and the decline is also growing by more than 1%.In early trading

, individuals are making net purchases alone, and foreigners and institutions are making net sales together.

Investor sentiment, which had been rapidly frozen in the aftermath of the US FOMC's "hawkish interest rate cut," has rarely recovered.

[Anchor]
Is the dollar exchange rate still around 1,450 won?

[Reporter]
Yes, the won-dollar exchange rate started at 1,450 won in the Seoul foreign exchange market.

It is currently fluctuating slightly, but it is not easily below 1,450 won.

Still, it's better compared to the 1,453 won rise yesterday.

The dollar's strength is expected to continue for a considerable period of time, with the U.S. third-quarter GDP confirmation released last night and the number of new unemployment claims coming in better than expected.

The dollar index, which represents the value of the dollar against currencies of six major economies, including the euro and yen, was up 0.09%, or nearly 0.1%, from the previous day.

As the exchange rate soared yesterday, the foreign exchange authorities increased the national pension and foreign exchange swap limit to $65 billion.

It also hinted at an active response to its foreign exchange reserves of more than $410 billion, the world's ninth-largest.

The market expects such efforts by the foreign exchange authorities to show up as a result of visible exchange rate stability.

I'm YTN's Ryu Hwan Hong.