S. Korea may announce KRW27 tln of market measures on Tuesday – Yonhap
|According to South Korea’s new outlet, Yonhap, the government could announce KRW27 trillion (tln) worth of market measures on Tuesday, in an ongoing effort to limit the economic fallout from the coronavirus spread.
Despite the downtrend in the number of new cases of the infectious disease in the South, the government extends measures to offer some economic relief.
South Korea ordered to half sell orders for program trading in its benchmark index, the KOSPI, earlier today.
Meanwhile, markets seem to ignore the positive trade data from the Asian economy, which showed that the first 20 days of March exports rose by 10% YoY.
USD/KRW reaction
Amid news of more stimulus measures likely to be unleased, the downslide in the Korean won (KRW) seems to have stalled for now, as USD/KRW consolidates near fresh decade highs of 1292.65 reached last Friday.
At the press time, the spot trades at 1280.10, up 2.05% on the day.
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