Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, professor of economics at Ewha Womans University.
Professor Kim, good afternoon. Thank you for coming on .
Yesterday, the National Assembly passed the government budget for next year. It includes a number of provisions for coronavirus relief payments, vaccines and so on. It is the biggest budget in Korean history, though. What do you make of the budget, professor?
Stocks in New York were mixed overnight. The Dow up two tenths of a percent, but the Nasdaq slipping just slightly. What's the story in the global market?
Today, in Korea, the nationwide college entrance exam meant that the KOSPI opened and closed an hour later than usual. The index was up and down in the end, closing about three quarters of a percent higher. What was driving the trade today in Seoul?
Oil prices are up today it seems on the UK approving a coronavirus vaccine for emergency use. Oil-producing countries are looking at keeping their production cuts. What do you see happening with oil, professor?
The exchange rate, won to dollar, has fallen below 11-hundred today for the first time in two and a half years. It's now been ten days since the foreign exchange authorities said they would take action. Why is the exchange rate going down so fast, and what do you make of the situation?