Time now for a look at the market news on this Friday afternoon.
And for that, I'm joined on the line by Mr. Daniel Yoo, global strategist at Yuanta Securities.
Mr. Yoo, thank you for coming on today.
The U.S. and Iran backing off from the brink of war, and the Chinese vice premier set to visit the U.S. to sign the first phase of a trade deal next week. U.S. stocks have risen to new all-time highs again. What's the story there?
China's Vice Premier Liu He, the head of the country's negotiating team in trade talks with the United States, will sign a "Phase 1" deal in Washington, DC, next week, the commerce ministry said on Thursday.
Liu will visit the US capital from January 13 to 15, said Gao Feng, a spokesman at the commerce ministry.
Negotiating teams from both sides remain in close communication on the particular arrangements of the signing, Gao told reporters at a regular briefing.
This is the first Chinese confirmation that the deal would be signed after US President Donald Trump said on December 31 that the Phase 1 deal with China would be signed on January 15 at the White House.
Liu will travel with the titles of Politburo member, vice premier and top trade negotiator, according to Gao. There was no mention of whether he will be designated a special envoy for President Xi Jinping, a title he held on some previous trips to Washington, DC.
Trump had said he would sign the deal with "high-level representatives of China", and that he would later travel to Beijing to begin talks on the next phase.
The Phase 1 deal reached last month is expected to cut tariffs and boost Chinese purchases of US farm, energy and manufactured goods while addressing some disputes over intellectual property.
Here in Korea, the KOSPI is also up for a second day in a row. Tell us about the domestic markets.
KOSPI is up around 0.4%, Kosdaq is up another 0.5%
Yesterday, we saw drastic recovery in index
KOspi was up 1.5%, and Kosdaq was up over 3.5%
4Q numbers were trigger point.
7.1 trn won vs. 6.6 trillion Operating profits
KOSPI earnings should rise this year.
Dividend payout ratio…. Improving…
The Korean currency had weakened a bit because of the tensions between Iran and the U.S. Now it's regained some of that strength at about 11-60 to the dollar. What's your near-term outlook for the Korean won and for international oil prices, which were also briefly affected?
Alright, Mr. Yoo.
We'll have to leave it there for today.
Thanks for sharing your insights, and have a great weekend.