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. Thank you for coming on today.
Well, let's start with the U.S. markets, where it's another down week. Concerns about a recession ahead, inflation leading to faster rate hikes. Some are worried what we saw with Walmart and Target could be a sign of things to come. What's the story today in the global markets?
Korean stocks strongly higher today. And with the S&P 500 on the verge of a bear market, in some sense Korean stocks are outperforming so far this year. The KOSPI now back above 26-hundred points. Shares of Samsung and SK Hynix up some say because President Biden's paying a visit to a Samsung factory. Tell us about the domestic market.
Finally, Mr. Yoo, Korean consumers are really feeling the inflation now, data show. Their propensity to spend has come down, and the concern is this going cancel out some of the recovery we've seen in spending. What are we in for inflation-wise and how is it hitting the economy?