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 today.
The U.S. markets were closed on Monday for a federal holiday, but on Tuesday closed much higher in a bounce back from their worst week in over two years. The gains relatively even across the main indices at over two percent. What's the story in the global markets?
Korean stocks closing lower today, though, now below 24-hundred points. Big declines for Samsung SDI, SK Hynix and others. The exchange rate creeping back up, too. Tell us about the domestic market, Professor.
In a report from the Bank of Korea on stablizing prices, the BOK says prices are being pushed up by both supply and demand. It's calling for inflation in the short term of above five percent. It raised the inflation forecast for last month. What's going on with inflation, Professor?
Finally, Professor, despite record-breaking exports of semiconductors, cars and so on, Korea's posting a trade deficit so far this year, and could end up with a deficit for the year as a whole. The price of oil is a main factor here because of the war in Ukraine, and that could get worse. What should we be watching in terms of the trade balance, and what can Korea do?