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In-depth: Global market wrap-up Updated: 2019-04-25 13:09:49 KST

With the markets closed now in Korea, it's time to check out the action there and around the world. And for that we're joined on the line by Daniel Yoo, global strategist at Kiwoom Securities.
Mr. Yoo, thanks for coming on today.

You're welcome.

Let's start with the Korean economy. As we just heard, data out today from the BOK saying the economy actually shrank in the first quarter. GDP growth of minus zero.3 percent. Stocks down today again. What happened here?

US market was very strong on Monday. Nasdaq broke historical high on closing at above 8,100 level.
Chinese market was also able to close higher yesterday day. Shenzhen index rose 1.1%.

Korea showing weak economic growth rate affected Korean won. Korean equity market. Market fell close to 1% yesterday. And today also declining by 0.3% or so for Kospi and 0.6% for Kosdaq.

However, lower growth rate in first quarter is due to high base effect of last quarter. YoY 1.8% growth rate. Fixed asset investment and construction investment come in very weak. Particularly, fixed asset investment was down 10.8% yoy.

However, base effect will not last long. Expect recovery in 2H.

Earlier this week, we saw U.S. stocks reach new all-time highs. Down the next day, though. What's driving that, and where's it headed?

Yes Most of earnings are coming in higher than expected.
However, still earnings are declining from last quarter. Therefore, still valuation is a bit stretched. Market fell. Dow -0.22%, Nasdaq -0.23%, S&P -2.2%, only Russell 2000 up 0.19%.

After hour. MS 1.14$ vs. 1$ forecast
Facebook 1.89$ vs. 1.61$
Up 4%, 8% respectively on after hour.

Record high level of Nasdaq will be be broken continuousely

Now, oil prices coming down a bit after three days of gains, perhaps getting over some of the shock from the U.S. announcement on its Iran sanctions. Where do you see oil prices going forward, and what does that mean for other markets like equities?

Oil price should settled.
Mainly because of Shale gas production increase
Saudi and UAE production increase.

As for Korea Saudi promised that it will substitute Iran oil.

Shale gas revolution is here to stay. This means Oil price will remain stable in the future.

Alright, Mr. Yoo. We'll have to leave it there. Thanks so much for coming on.
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