Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said Tuesday that the government is considering all options to cope with the volatility of the stock and cur.
Seoul stocks opened higher tracking overnight Wall Street gains, after plunging to the lowest level in more than two years the previous session on growing recession fears.
Korean stocks closed down on Thursday, as investors were spooked by growing worries over a global economic recession following the U.S. Federal Reserve s sharp rate hike decision. The Korean won fell to a 13-year low against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 14.9 points, or 0.63 percent, and closed at 2,332.31. Trading volume was light at 436.1 million shares worth 7.3 trillion won, with decliners outnumbering gainers 579 to 299.After starting low at the opening bell, the main bourse tumbled near the 2,300 mark but the losses were trimmed on bargain hunting. Thursday s losses came after the Fed s overnight decision to raise its benchmark federal funds rate by 75 basis points for a third straight time, with its Chair Jerome Powell confirming his resolution to fight inflation