증시 대담
It's time now for a look at the markets on this Monday at look ahead to the rest of the week. And for that, I'm joined on the line by Dr. Hwang Seiwoon, research fellow at the Korea Capital Markets Institute.
Thanks for coming on today, Dr. Hwang.
You're welcome.
So, the U.S.-China trade talks have ended without a deal, but they've left the door open to further talks. On Wall Street, stocks were up last Friday. Take us through the global markets on this Monday.
U.S. Stocks staged a massive reversal Friday after President Donald Trump said conversations with China over trade will continue and his relationship with President Xi remains strong. Stocks hit session highs after Trump's late Friday tweet and closed near those levels. The president also noted that the trade talks with China were candid and constructive.
While a Trump tweet pushed stocks higher into the close, it was an earlier tweet by the president that helped send the market to its low of the session. I continue to expect the two sides to reach a trade deal eventually, but this is unlikely to happen in the short term as the trade war so far is not painful enough for either side.
Asian shares slipped on Monday on growing uncertainty over whether the United States and China will be able to reach a deal to end their trade war. Japan’s Nikkei average traded down 0.44 percent as of close and China’s Shanghai Composite dropped 0.92 percent.
Now, Korean shares down pretty sharply today because of those trade tensions. It's expected to hit Korea's economic growth. To what extent to do you see that happening, and what happened in the local market today?
Seoul stocks closed sharply lower Monday amid an apparently deepening trade conflict between the United States and China. The benchmark KOSPI lost 0.83 percent, while the KOSDAQ composite dropped 0.68 percent.
The sharp drop follows an unprecedented trade friction between the world's two largest economies. The U.S. offensive led to Wall Street gains on Friday. However, most stocks suffered heavy losses in Seoul since last week. When we consider South Korea’s heavy economic reliance on China, the domestic stock market is expected to experience elevated volatility for a while, depending on ups and downs in the negotiation process between the U.S. and China. I think China is not likely to give in quickly. This implies that the damage to China's economic growth will have strong impact on Korean economy along with Korean stock markets.
This week, the Korean finance ministry is going to release its green book, with some data on the economy, including jobs numbers for April. Including that, what should we be watching this week?
The Statistics Korea will release the April 2019 domestic employment report on this coming Wednesday. Recent employment indicators are sending out both positive and negative signals. In the March employment results, the employment rate was 60.4%, which was the new record high in March. In the April employment report,
