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, thank you for making time today.
Positive comments on the U.S. economy from Fed Chair Jay Powell, but stocks on Wall Street closing lower. Though we've also got inflation data coming up on Tuesday. The S&P about flat, the Nasdaq taking a moderate hit. What's the story in the global markets?
Here in Korea, the KOSDAQ closed above 1-thousand points for the first time in twenty years. Today holding that level, and in fact, it's been chasing after the KOSPI in terms of performance, even outperforming at times, since last year's crash. What do you make of this run-up on Korean tech shares?
Some big news late last week about Korea's national pension fund, which is the largest institutional investor in the country and is said to be the third biggest pension fund in the world. It's going to raise the limit on its investment in local equities by one percent, which means it'll have to stop selling as much as it has. The fund had a strong return in the past year. Tell about this move and what effect you think it'll have on the market.
Korea's exports, we see this month, are continuing their recovery. Up about 25 percent from a year ago, and the daily average up by about a third. Obviously, this is because exports fell so much last year, but what do you see happening with exports?