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. Thanks for coming on.
Stocks on Wall Street Monday started the week a little mixed. A gain on the Dow and the broader S&P, but tech stocks on the Nasdaq closed lower. Again it seemed to be strong earnings, and a pick-up in economic activity, including manufacturing. What's the story in the global markets?
Today was a rather choppy session in the Korean market. It was the second day since regulators lifted the ban on short selling that had been in place since early in the pandemic. Yesterday, the KOSDAQ, which lists tech companies, significantly underperformed the KOSPI, but not really the case today. Are fears overblown about short selling on the KOSDAQ, or what's your view?
At the close, the KOSPI Data from the Korea Exchange show valuations in Korea are still much lower than in the bigger markets. Price-to-earnings in Korea at 26 versus the U.S. at 34. Tell us about today's trade and your outlook going forward.
Last month, data show, consumer inflation in Korea was the highest it's been in almost four years. For a long time it was getting close to zero. But what do you make of this inflation number?