증시 대담
It's time now for an in-depth look at the market action today, and for that I'm joined on the line by Mr. Daniel Yoo, global strategist at Kiwoom Securities.
Mr. Yoo, thanks for coming on today.
You're welcome.
So here we are, on Wall Street the first trading day after the G20 summit and a new record high for the Nasdaq, up by 1 percent. The Dow also up almost half a percent. What's the story there?
The United States and China agreed on Saturday to restart trade talks after President Donald Trump offered concessions including no new tariffs and an easing of restrictions on tech company Huawei in order to reduce tensions with Beijing.
China agreed to make unspecified new purchases of U.S. farm products and return to the negotiating table. No deadline was set for progress on a deal, and the world's two largest economies remain at odds over significant parts of an agreement.
Trump offered an olive branch to Xi on Huawei, the world's biggest telecom network gear maker. The Trump administration has said the Chinese firm is too close to China's government and poses a national security risk, and has lobbied U.S. allies to keep Huawei out of next-generation 5G telecommunications infrastructure.
Clearly positive news to global equity market. However, still worried of no deal struck on the trade dispute yet. Global economic slow down is given fact. No recession but slow down inevitable. Aggressive monetary policy expected.
Kospi is still one of the worst performing market due to worries now Japan's ban on selling IT components to Korea. Kospi down 0.25%, Kosdaq up 0.32% but that is because of sharp fall of prices we saw last week due to new drug 3rd trial test results come poor. Doubts remain on Korea's new drug development industry.
So now, the tensions between South Korea and Japan spilling over in the form of harsh new restrictions by Japan on trade, which it's being said amount to sanctions. What's happening here and where do you see it going?
Japan will tighten curbs on exports of high-tech materials used in smartphone displays and chips to South Korea amid a growing dispute over South Koreans forced to work for Japanese firms during World War Two, the industry ministry said on Monday, prompting condemnation from Seoul.
Tighter export controls, to become effective on Thursday, would slow the export process by several months, hitting South Korean tech giants, such as Samsung Electronics (005930.KS), SK Hynix (000660.KS) and LG Display (034220.KS).
The step comes amid Tokyo's growing frustration at what it calls a lack of action by Seoul over issues stemming from its top court ruling last October that ordered Nippon Steel (5401.T) to compensate former forced laborers.
The South Korean foreign ministry as well summoned Japan's ambassador and called for a withdrawal of the curbs, it said.
Japan rejected South Korea's proposal last month to create a joint compensation fund for victims with contributions from both nations' companies.
"South Korea
