Loading…
South Korea's First Vice Finance Minister said the government will step up market monitoring and take steps to stabilize financial markets if needed. The move follows volatility driven by fears that the Federal Reserve could raise rates sooner than expected after a 4.2% year-on-year jump in US consumer prices in April.
The won traded at 1,130.20 per dollar and the Kospi fell 1.32%.
Rate-hike fears and a weaker won raise the cost of dollar-denominated feed imports for Korean buyers, though the direct effect on grain and meal prices is small. Any intervention would mainly affect currency and equity markets.
koreaherald.comYonhapMay 13, 2021Not 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.
