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South Korean assets rallied after the government pledged at least 50 trillion won ($34.8 billion) to support credit markets and ease fears of defaults in sectors including real estate. The Kospi rose as much as 2%, and the won gained up to 0.8% against the dollar before paring the move.
The credit backstop reduces near-term financial stress and supports the won, which lowers Korean import costs for feed ingredients priced in dollars. The effect on grain and meal prices is minor.
bloomberg.comShinhye Kang, Youkyung LeeOct 24, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
