Korea's benchmark index ends higher following 'Trump shock'
- 7 years ago
The market turmoil seen right after Donald Trump's victory... was short-lived,... with major Asian markets rebounding sharply on Thursday.
But there could be further volatility down the line, given the uncertainties regarding the campaign pledge of President-elect Trump.
Kim Min-ji reports.
Korean stocks rebounded on Thursday,... after the shock of Republican Donald Trump's presidential victory had sent markets into a tailspin the day before.
Seoul's benchmark KOSPI closed up 2-point-26 percent,... while the tech heavy KOSDAQ added over 3-point-9 percent.
Korea's main index plunged two-and-a-quarter percent on Wednesday,... while the secondary bourse shed over four percent,.... amid the growing uncertainties about the impact that a Trump victory could have on the financial markets and the global economy.
On Thursday, markets across Asia also recouped many of their losses.
Japan's Nikkei, which had sunk more than five percent Wednesday, gained 6-point-7 percent Thursday... while Hong Kong's Hang Seng added nearly two percent.
"Today's retrack of FX move and equity gains are due to Trumps' softening of rhetoric at his acceptance speech, however, it's expected to only be short-lived. The extent to how far he will carry out his campaign promises is not yet known, but the fact that he took at protectionist, isolationist stance during the campaign, is already an unpredictable factor for the market volatility increase."
The rebound in Asia followed gains on Wall Street with U.S. shares bouncing back on Wednesday after major sell-offs overnight.
Investors seemed reassured by Trump's key policy priorities, which include generous tax cuts and greater spending on infrastructure and defense.
"Because President-elect Trump is actually sounding very conciliatory towards the other side, also emphasizing the need for us to work in a unified fashion, I think that is sending a positive message to those on Wall Street."
However, given the absence of the new president-elect's
But there could be further volatility down the line, given the uncertainties regarding the campaign pledge of President-elect Trump.
Kim Min-ji reports.
Korean stocks rebounded on Thursday,... after the shock of Republican Donald Trump's presidential victory had sent markets into a tailspin the day before.
Seoul's benchmark KOSPI closed up 2-point-26 percent,... while the tech heavy KOSDAQ added over 3-point-9 percent.
Korea's main index plunged two-and-a-quarter percent on Wednesday,... while the secondary bourse shed over four percent,.... amid the growing uncertainties about the impact that a Trump victory could have on the financial markets and the global economy.
On Thursday, markets across Asia also recouped many of their losses.
Japan's Nikkei, which had sunk more than five percent Wednesday, gained 6-point-7 percent Thursday... while Hong Kong's Hang Seng added nearly two percent.
"Today's retrack of FX move and equity gains are due to Trumps' softening of rhetoric at his acceptance speech, however, it's expected to only be short-lived. The extent to how far he will carry out his campaign promises is not yet known, but the fact that he took at protectionist, isolationist stance during the campaign, is already an unpredictable factor for the market volatility increase."
The rebound in Asia followed gains on Wall Street with U.S. shares bouncing back on Wednesday after major sell-offs overnight.
Investors seemed reassured by Trump's key policy priorities, which include generous tax cuts and greater spending on infrastructure and defense.
"Because President-elect Trump is actually sounding very conciliatory towards the other side, also emphasizing the need for us to work in a unified fashion, I think that is sending a positive message to those on Wall Street."
However, given the absence of the new president-elect's