Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, professor of economics at Ewha Womans University.
Professor Kim, thank you for making time today.
The U.S. Congress has approved a 2-trillion dollar coronavirus relief bill. It's less focused on big business than the 2008 relief measures were, and meant more for households. Why have they decided to focus more in that direction?
Korea has also approved an emergency relief package of around 80 billion dollars. The effects of these measures, though, are not only local but global. What might those effects be?
Like the Fed, the Bank of Korea is now promising unlimited liquidity for the markets. This has never been done before. But they'll do it for three months, and extend it if needed. Do you think they'll need the extra three months?
Korean stocks are up today, and overnight Wall Street was up for a second day in a row the first time that's happened since February. What's the story in the stock markets today?
Oil prices are up again for a fourth day in a row. It would seem this is at least in part on anticipation from the 2-trillion dollar relief package in the U.S. What do you think's going to happen in terms of oil?
Alright, Professor Kim.
That's where we'll have to leave it for today.
Thanks so much for sharing your insights.