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. Thank you for making time today.
It's shaping up to be an interesting week in the markets, you might say. Overnight on Wall Street, the Dow was off more than a thousand points, looking at a decline in the five percent range but in the end closing higher. That reversal, though, did not happen in Europe. Tell us about these big swings and the picture in the global markets right now.
Today in Korea, both main indices down 2-and-a-half percent or more. Retail investors are net buying though, and the selling is by foreigners. The KOSPI getting awfully close to 27-hundred points now. Tell us about the domestic market.
Now, cryptocurrencies have been even more volatile than usual. This week, Bitcoin falling below 34-thousand dollars, now back up a little bit, but it's still roughly half the price it was at last year's high. Bitcoin investors watching the Fed like everyone else, but what do you see driving the crypto space going forward?
Finally, Mr. Yoo, the Korean economy contracted in 2020 when the pandemic started, like many other economies. But thanks to strong exports and consumer spending, it returned to growth last year. It's likely that per capital income rose as well. Tell us about that and what you take away from the data last quarter.