Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Yang Jun-sok, Professor of Economics at the Catholic University of Korea.
Professor Yang, good to have you back on.
On Wall Street, the pressure continued on the big tech stocks. Fed Chair Powell telling Congress, though, that there are no plans to raise rates. In Seoul, stocks plunged today on several issues, it seems. So what's the story in the global and the Korean markets?
Last year, credit extended to Korean households rose by around 126 trillion won call it a hundred and ten billion dollars. This was the biggest increase in four years. It doesnt look like rates on deposits are going up but only rates on borrowing. What do you make of the situation, professor?
Sentiment among businesses, according to the business survey index for February, is down again by one point, having risen the month before by two points. Things have been looking better in terms of controlling the pandemic, so why the drop, and what do you expect to see going forward?