S. Korea ready to respond swiftly if financial volatility rises amid U.S.-China trade talks

South Korea’s senior economic
policymakers Monday reviewed domestic
and external risks to the local
financial markets the first vice finance
minister emphasized that the government
will take measures to help stabilize
markets if necessary kim moo-sung
reports South Korea’s first twice
finance minister says the government
will take swift measures to stabilize
the nation’s financial markets in case
of increased volatility amid the ongoing
us-china trade negotiations meeting with
senior economic and financial officials
on Monday Kim Imam said there is a
possibility of rising financial
volatility of Washington imposes new
tariffs on 156 billion u.s. dollars of
Chinese goods on December 15th as
scheduled he added that the ongoing Hong
Kong protests and president Trump’s
announcement of metal tariffs aimed at
Argentina and Brazil also add to the
external risks in December foreign
investors extended they’re selling binge
of Korean stocks on concerns over the
ongoing US on a trade dispute and Korean
companies sluggish earnings
the Korean Won also weakened against the
greenback first vice finance minister
Kim said the government will closely
monitor markets and respond with a
contingency plan if there’s a sharp
fluctuation in the foreign exchange
market and stock markets on a positive
note he added that Korea’s current
account has continued to record a
surplus hitting around 50 billion u.s.
dollars between January and October and
the Korea’s foreign currency reserves
are at a record high lastly he vowed to
help boost the real economy through
structural reform including the labor
market and the public sector Tim Ezell

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