Prices of Korean exports, imports rose on-month in June: BOK

Financial markets around the world have been
rocked by the escalating U.S.-North Korea tensions. All three of the major markets on Wall Street
dropped on Thursday… following President Trump’s latest remarks. South Korea’s benchmark KOSPI has also been
hit over fears the situation could worsen in the coming days. Kim Hyesung has the details. Korea’s benchmark KOSPI opened lower on Friday,
continuing its downswing for the fourth straight session. This after the KOSPI closed below the 2-thousand-360
level on Thursday for the first time in more than two months. Investment sentiment is worsening due to the
escalating tensions between the U.S. and North Korea, with Pyongyang threatening to fire
missiles near Guam, and President Trump doubling down on his strong rhetoric. As a result of the tensions,… South Korea’s five-year credit default swap
premium, a measure of its credit risk, has jumped to its highest level since July 2016. The local currency is also weakening, slipping
to 1,142 won against the dollar on Thursday. The Ministry of Strategy and Finance held
a meeting Friday morning to examine South Korea’s capital market and the real economy…
in a bid to address the growing market volatility. The ministry vowed to continue monitoring
the market situation and come up with a contingency plan. Kim Hyesung, Arirang News.

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