Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Mr. Daniel Yoo, Global Strategist at Yuanta Securities.
Mr. Yoo, good afternoon. Thank you for making time on this Friday.
Overnight on Wall Street, U.S. stocks continued their decline, it seems on false hope that the Fed wouldn't move as fast as it did on rates this week and the fact that Chairman Powell said they're going to keep at it. The only sectors with gains were healthcare and communications. What's the story in the global markets?
Here in Korea, stocks down again as well, another 1-and-a-half percent plus for the KOSPI and almost 2-and-a-half percent on the KOSDAQ. A slight gain for Samsung Electronics, which yesterday hit a new 52-week low. Tell us about the domestic market.
Finally, we have to talk about the Korean currency. With the Fed tightening aggressively, the exchange rate the past couple days has been above 14-hundred won to the dollar, a key psychological threshold it would seem, and the weakest the won has been since March 2009. Not a good situation for Korea. What do you see happening with the currency?