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 coming on.
Let's start with the markets. Stocks in New York were up on Thursday on stronger than expected earnings and more spending plans from the Biden administration. The S&P at a new high, above 42-hundred points. What's the story in the global markets?
Korean stocks today were down by a fair bit. Foreigners and institutions were net sellers again today, and it seems there's concern about Korea next week set to allow short-selling, which has been banned for the past year. Tell us about the local market.
The exchange rate has come down quite a bit over the past month. Right now the Korean won is at about 11-10 to the dollar, which is the lowest it's been since February. What's causing the won to gain here, or as it were, the dollar to weaken?
We continue to see signs of the Korean economy recovering. The latest report from Statistics Korea shows production and consumption both up last month overall. Tell us a bit more about what's happening in the economy.