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 to have you back on.
We're now in the blackout period, where Fed officials don't speak publicly in the days leading up to this month's open markets committee. A lot of concern still out there about rising rates. Some say the Fed is going to bring back Operation Twist, where the Fed sells shorter term Treasuries and buys longer ones. What do you make of the situation, Mr. Yoo?
Stocks on Wall Street were mixed overnight. Tech taking another hit, so the Nasdaq and S&P were down, but a moderate gain on the Dow. What's the story in the global markets?
In the Korean market, foreign investors continue to sell off. The tech-heavy KOSDAQ now below 900 points for the first time since December. The KOSPI with a decline too, closing below 3-thousand for a second day. Tell us about the local markets.
Oil prices had recently recovered to where they were before the pandemic. Brent crude touched 70 dollars for the first time in well over a year because of a drone attack on Saudi oil facilities, but that rally fizzled. What do you see happening will oil?
There's a big IPO coming up from SK Bioscience, the South Korean company that's been making coronavirus vaccines for other companies and is developing one of it's own. Demand for shares is huge, as it was last year with the listing of SK Biopharmaceuticals, Kakao Games even the management agency for BTS. Your thoughts on the IPO craze and maybe this one in particular.