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. Hope you had a good holiday. Thanks for coming on today.
So today, the Bank of Korea decided to keep interest rates where they are, a couple of months ago, of course, having been the first in the developed world to raise the benchmark rate by 25 basis points. Major factors including household debt and surging asset prices. Tell us about this latest decision and what the thinking is at the BOK.
We're seeing energy shortages in many countries right now, and the price of oil rising now to 80 dollars a barrel. That's the highest in seven years for West Texas, and the highest in about three years for Brent. What's happening with oil, and what's your outlook?
Stocks on Wall Street on Monday continued their decline amid concern about inflation, or perhaps the stagflation many are talking about. The Dow off about point-7 percent, the S&P and the Nasdaq pretty similar. What's the story in the global markets, and what will you be watching for this week?
Here in Korea, today the KOSPI dipped briefly below 29-hundred for the first time in ten months. Shares of Korea's biggest company, Samsung Electronics now below 70-thousand won for the first time in the same period. Strength, though, in some petrochemical companies with oil prices now so high. Tell us about the domestic market.