Time now for an in-depth look at the market news on this Friday.
And for that, I'm joined on the line by Mr. Daniel Yoo, Global Strategist at Yuanta Securities.
Mr. Yoo, thank you for making time today.
China is holding its biggest political event of the year, the Two Sessions. They're presenting a new five-year plan, announcing this year's growth target. Investors are watching that, and also some moves by the People's Bank of China. What's the story in China today?
Stocks on Wall Street took another big hit overnight, again on the surge in bond yields. Futures are down as well. The Fed saying inflation is ahead, and apparently not giving enough reassurance about what it's going to do. Tell us about the global markets.
Today in Korea, the KOSPI dipping below 3-thousand points early in the session, but recovering some of that towards mid-day. Retail investors, though, apparently seeing a chance to buy. What happened today in the local market?
Last year, Korea's per capita gross national income fell yet again. It's the first time it's fallen multiple years in a row since the global financial crisis. We'd been wondering when per capita income would reach 40-thousand and catch up with the advanced economies, but it's backtracked to around 31,700. Obviously the pandemic was a factor, but what can we expect going forward?
Q5 The Korean currency has lost significant strength against the U.S. dollar in recent days. Today touching 11-30 to the dollar. A month ago it was more like 11-hundred. So, going back to the Fed, perhaps, what do you see happening there?