Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, Professor of Economics at Ewha Womans University.
Professor Kim, good afternoon. Thanks so much for coming on today.
Stocks in New York closed lower overnight. All three main indices down led by tech and consumer shares. AMD was down more than 6 percent, and Nvidia down more than 5 percent. The momentum from last week is gone, it seems. What's the story in the global markets?
Korean stocks down today as well, virtually all the big names, with continued net selling by foreign invesetors. Carmakers in particular down a lot, perhaps on news of a decline in U.S. consumer confidence contributing to that. Tell us about the domestic market.
Data show businesses in Korea are pessimistic about the economy going into July. Sentiment for next month is at the lowest in a year and a half. The biggest decline was in utilities. What's the sentiment like for business right now?
Finally, Professor, the Bank of Korea reports that consumer expectations for inflation are at the highest in ten years. The expectation is now for prices to rise by almost 4 percent over the next year. Expectations like this can lead prices higher. So consumer sentiment about the economy is down right now. What's in this report from the Bank of Korea?