Global | Macro | South Korea
South Korea Industrial Output Rises 2.3 Percent in June
All industry production rose 2.3 percent on the month in June and 4.2 percent on the year, with manufacturing output up 6.8 percent after a fall in May.
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Global | Markets | Middle East | South Korea
Market Wrap MENA-Asia 30 July: Gulf Firms on Oil as China and Korea Retreat
Asian markets were mostly softer on Thursday as the region digested a hawkish hold from the US Federal Reserve and a sharp Wall Street selloff, while oil held near 90 dollars after its surge and Gulf bourses firmed on the stronger crude bid. Chinese and South Korean shares led the declines, with the Shenzhen Component…
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Global | Markets | Middle East | South Korea
Market Wrap MENA-Asia 16 July: Cairo Nears 53,000 and Saudi Edges Up to Close the Week as the Bank of Korea’s First Hike Since 2023 Sinks Seoul 6.4 Percent
Asia’s whipsaw week found its policy trigger on Thursday and the Gulf closed its first full week of the escalation barely changed. The Bank of Korea raised its policy rate 25 basis points to 2.75 percent, its first increase since January 2023, and Seoul’s Kospi fell 6.37 percent to 6,820.60, handing back almost exactly Wednesday’s…
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Global | Macro | Markets | South Korea
Bank of Korea Raises Its Base Rate to 2.75 Percent in Its First Hike Since 2023
The Bank of Korea raised its benchmark base rate by 25 basis points to 2.75 percent from 2.50 percent on 16 July, its first interest rate increase since early 2023. The decision, which reversed the recent easing bias, was reported as unanimous. The central bank pointed to persistent inflation, a weaker won and stronger-than-expected growth….
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Global | Macro | South Korea
Bank of Korea Chief Signals a Rate Hike Is Coming as Inflation Runs at a 30-Month High Before Thursday’s Decision
Bank of Korea Governor Shin Hyun-song told lawmakers on Thursday that interest rates will need to rise, the clearest signal yet that Asia’s fourth-largest economy is turning toward tightening as war-driven energy costs push inflation further above target ahead of the central bank’s rate decision on Thursday 16 July. “I believe there needs to be…
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Market Wrap MENA-Asia 7 July: Asia Sells Off Led by Korea as the Gulf Holds Firm and Egypt Rises
Asian equity markets fell sharply on Tuesday in a renewed technology-led selloff, led by a steep drop in South Korea, while Gulf markets held broadly firm and Egypt extended its recent gains, leaving MENA markets sharply outperforming a weak Asian session. The heaviest losses came from Asia. South Korea’s KOSPI plunged 4.91 percent to 7,656.31,…
