Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the lin by Dr. Yang Jun-sok, Professor of Economics at The Catholic University of Korea.
Professor Yang, good to have you back on.
Investors have been nervous about equities in the past week because of the sudden rise in interest rates. Some say this might prompt some action from the Fed. Specifically, reviving a policy called Operation Twist. What is that policy, do you think it's coming and what would it do, if so?
Stocks on Wall Street again were down, led by the big tech stocks and other growth shares like Tesla, which was down 4-and-a-half percent, Apple down 1.4. What's the story today in the global markets?
Today, the Korean markets started out really uncertain, but closed with a gain. Looks like retail investors were taking some profits, while institutions were buying. Tell us about the local markets.
The price of gold has fallen to its lowest in eight months. It's now at around 17-hundred-30 dollars an ounce. What's causing the move out of gold, and do you think that trend is going to continue?
Data show that here in Seoul, the average home price last month rose to more than 800 million won a little over 700-thousand dollars. It was just ten months ago that it crossed 700 million won. This is according to KB Bank. The government's been trying to bring prices down by tightening credit. So is it a lack of inventory, or what's driving prices higher like this?