Time now for an in-depth look at the market news this afternoon.
And for that, I’m joined on the line by Dr. Song Soo-young, Professor of Business at Chung-Ang University.
Professor Song, good afternoon. Thanks so much for coming on today.
Stocks on Wall Street were a little lower again for the most part overnight, this recent rally continuing to fade. The Dow was up about a quarter percent, but the S&P and the Nasdaq slightly down. What’s the story in the global markets?
Korean stocks today with another pretty significant sell-off, down over 1 percent on the KOSPI. A bounce back for automakers, but LG Energy Solution and and Samsung SDI off by about 5 percent and 6 percent respectively. The KOSPI lost about 1-point-7 percent, and the exchange rate back to about 13-hundred. Tell us about the domestic market.
Now going into the second half of the year there are concerns about an economic slowdown, and inflation remains high. This could make an economic recovery more difficult, and many analysts are lowering their forecast for the KOSPI. Instead of 24-to-25-hundred points, they’re calling for as low as 22-hundred. What do you see in the second half of the year, Professor?
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2022-06-30, 17:00 (KST)