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Foreign investors sold Korean stocks and bonds for a fourth straight day, pushing the KOSPI down 2.57% to a yearly low of 2,106.1. Foreign selling totaled about 4 trillion won in October so far, driven by the weakening won, U.S.-China trade tensions and the U.S.-Korea interest rate gap.
A weaker won and capital outflows raise the local currency cost of imported feed ingredients priced in dollars, such as corn and soybean meal for Korean buyers. Currency pressure can also slow Korean feed and livestock purchases.
koreatimes.co.krJhoo Dong-chanOct 23, 2018Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
