S. Korea's financial market volatility may increase: BOK chief
- 6 years ago
South Korea's central bank chief says the country might face increased financial market volatility in the near future.
His remarks come a matter of days after the nation's main stock market suffered its largest on-month drop in ten years.
Ko Roon-hee reports.
Speaking at a financial council meeting on Friday, Bank of Korea Governor Lee Ju-yeol said the country might face increased financial market volatility due to high uncertainties at abroad.
Governor Lee met with local bank heads in Seoul and said the central bank will closely monitor the financial situations in foreign countries and cooperate with the South Korean government, if necessary.
He mentioned the recent activity on the local benchmark KOSPI... which showed a positive turnaround this week... after falling by almost 14 percent in October-- its largest on-month decline since 2008.
October was a brutal month for investors around the world as all major indices on Wall Street fell due to fears over slowing growth, trade wars and higher interest rates.
The Nasdaq tumbled around nine percent in October,... the biggest monthly drop in a decade.
Although the pain spread to overseas market, including South Korea, Governor Lee stressed the market movement was different to past financial jitters... because interest rate and currency fluctuations were limited.
He said South Korea continues to log a current account surplus and foreign investors' confidence in the South Korean economy remains strong.
Ko Roon-hee, Arirang News.
His remarks come a matter of days after the nation's main stock market suffered its largest on-month drop in ten years.
Ko Roon-hee reports.
Speaking at a financial council meeting on Friday, Bank of Korea Governor Lee Ju-yeol said the country might face increased financial market volatility due to high uncertainties at abroad.
Governor Lee met with local bank heads in Seoul and said the central bank will closely monitor the financial situations in foreign countries and cooperate with the South Korean government, if necessary.
He mentioned the recent activity on the local benchmark KOSPI... which showed a positive turnaround this week... after falling by almost 14 percent in October-- its largest on-month decline since 2008.
October was a brutal month for investors around the world as all major indices on Wall Street fell due to fears over slowing growth, trade wars and higher interest rates.
The Nasdaq tumbled around nine percent in October,... the biggest monthly drop in a decade.
Although the pain spread to overseas market, including South Korea, Governor Lee stressed the market movement was different to past financial jitters... because interest rate and currency fluctuations were limited.
He said South Korea continues to log a current account surplus and foreign investors' confidence in the South Korean economy remains strong.
Ko Roon-hee, Arirang News.