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 to have you back on. Thanks for making time today.
Stocks on Wall Street were mixed overnight in their first full session after the FOMC's latest meeting. The Nasdaq was up a fair bit, but the Dow closed lower. What's the story in the global markets?
Here in Korea, both main indices higher, especially the KOSDAQ, which was also up yesterday. The KOSPI is now well above a thousand points. Strength today in tech stocks and some bio names. Tell us about the domestic market.
The Fed's talk yesterday about raising rates and tapering has had an effect on Korean won's exchange rate with the dollar. It's back up to about 11-30 against the dollar, which is the highest it's been in about four weeks. What do you see happening with the exchange rate?
The Korean government and the city of Seoul have been trying to cool off the housing market. But despite those efforts, apartment prices in the capital rose this week on a week-to-week basis by the most in a year and a half. It doesn't seem the current strategy to bring down prices is working. What does that mean to you, and where do you see the housing market going forward?