S. Korea's Vice FinMin: Will act swiftly if volatility in financial market rises
|Speaking at a meeting of senior financial and economic officials on Monday, South Korean Vice Finance Minister Kim Yong-beom said his government “will act swiftly and boldly upon (its) contingency plans in case volatility in the financial market rises,” as cited by Reuters.
Key Quotes:
“There were possibilities of volatility increasing in financial and foreign-exchange markets if the United States imposes additional tariffs against China on Dec. 15.”
On the recent foreign capital outflow in the benchmark KOSPI index, Kim said “it was because of rising external uncertainties and MSCI index rebalancing.”
Meanwhile, USD/KRW trades with moderate gains near-daily tops of 1,190, as the US dollar continues to benefit across the board on stronger NFP data and trade deal optimism.
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