Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Mr. Daniel Yoo, Global Strategist at Yuanta Securities.
Mr. Yoo, good afternoon, thanks for making time on this Friday.
Stocks in New York were quite a bit higher overnight. We could finally end up having U.S. stocks higher this week. Some retailers were posting strong earnings. It was also an interesting reaction the markets had to the minutes from the Fed meeting. What's the story today in the global markets?
Korean stocks were higher today too, especially on the KOSDAQ, maybe partly on earnings from the American chipmaker Nvidia, which has a huge gaming business but also a growing data center business. Foreigners were net buyers today, and the exchange rate has come down further. What do you see happening in the domestic market?
Finally, Mr. Yoo, the impact of the Bank of Korea's latest interest rate hike. The property market in Seoul is basically at a standstill right now, and higher mortgage rates are unlikely to get it moving again even if there weren't still such tight regulations on mortgage lending. What's happening there could we expect a change if the Yoon administration makes the reforms it promised on real estate?