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 today.
Let's start with the markets. An inflation number from the U.S. that exceeded expectations at 5 percent for May. Despite that, the S&P rose to a new high. Even higher during the session, actually. What's the story in the global markets?
Korean stocks today higher as well. The KOSPI now above 32-40 and the KOSDAQ back at 9-90. Investors seem to think that even the five-percent inflation number won't be enough to get the Fed to raise rates. Tell us about the local market.
The Governor of the Bank of Korea, Lee Ju-yeol, has signaled that he will eventually be pulling back on the BOK's monetary easing policy at the appropriate time. Until now, it had been pretty clear that the BOK would stand pat on rates, but this would indicate that we're getting closer to that point. What do you make of his remarks?
Korea's export and import prices are rising, which is perhaps not a surprise. These figures are converted into Korean won. But from a year earlier, exports in May were up more than 12 percent and imports almost 14 percent. What's happening there?