Thanks to the impact of the rising US stock market, the KOSPI increased by more than 3%.
The exchange rate dropped close to 60 won to 1,310 won.
Contact a reporter to find out more. Reporter Park Byung-han!
Did the stock market go up and the exchange rate go down today?
As the rate of increase in US consumer prices came out lower than expected, the US stock market soared, and the Korean stock market also surged today.
The KOSPI closed at 2,483.16, up 80.93 points or 3.37%.
Foreign investors net bought more than 600 billion won, institutions net bought more than 900 billion won, and individuals net won more than 1.6 trillion to realize profits.
Samsung Electronics rose 4.14% to 62,900 won, and Kakao rose 15.55% to 58,700 won.
The KOSDAQ closed at 731.22, up 23.44 points or 3.31%.
As the US inflation rate for October was lower than expected, US and Korean stock markets were boosted by expectations that the US Fed’s will to tighten is weakening.
The won/dollar exchange rate in the Seoul foreign exchange market closed at 1,318.4 won, down 59.1 won from the previous trading day’s closing price.
As the exchange rate, which once exceeded 1,400 won and continued its high-altitude march, even sounded the warning of the foreign exchange crisis, it fell to close to 60 won, the burden of the financial authorities decreased a little.
The Bank of Korea, before the meeting of the Monetary Policy Committee on the 24th, is also expected to consider raising the base rate by 0.25 percentage points instead of raising the base rate by 0.5 percentage points due to the sharp drop in the exchange rate.
This has been reported by the Ministry of Economy.
YTN Park Byung-han (email@example.com)
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