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. Thanks for coming on today.
Stocks in New York were up overnight as earnings continued to come out better than expected. The Dow, which saw a big drop earlier this week, has recovered all of that. The S&P too. What's the story in the global markets?
Here in Korea, stocks closed higher for the first time in five sessions. Up close to one percent on both main indices, it seems in part because of the rise in U.S. stocks. Tell us about the domestic market.
The International Monetary Fund is now calling for global GDP growth this year of six percent, which is the same as its forecast back in April. But there are, as might be expected, big differences in how fast various individual economies will grow. The actual IMF report is due out next week, but what is the IMF saying?
Korea continues to post strong exports despite the Delta variant hitting economies around the world. Still, some are saying that if the virus hits production by Korean companies, that would in turn have an impact on exports. What can you say about the threat of the Delta variant?
Finance Minister Hong Nam-ki is saying that home prices in Seoul may have peaked, and he is among those warning that prices could in fact start to fall. There are some signs of demand starting to soften. What do you see happening with home prices in Seoul, and what the impact on the economy might be of this overheated market?