It's time now for an in-depth look at the market action this afternoon.
And for that, I'm joined on the line by Mr. Daniel Yoo, Global Strategist at Yuanta Securities.
Mr. Yoo, thank you for making time today.
Thank you.
It seems like the markets are hanging on every word from President Trump... with the high-level trade talks coming up with China. Some think they might reach some kind of a deal sooner rather than later, and this seems to be lifting sentiment. Wall Street up overnight and Korean stocks up today too. What's the story?
The dollar found broad support on Thursday as investors welcomed U.S. President Donald Trump's hints of progress toward a trade deal with China and discounted the prospect of an impeachment probe making much headway in the short term.
it was driven by optimism for a U.S.-China trade deal and markets' shifting the prospect of impeachment to the long-term.
"Markets shrug these things off very, very quickly and we move on to the next stuff. As it moves on, it's going to be interesting, but we have to go back to the fundamentals and fundamentals
US up sp 0.62%, nasdaq 1.05%. Europe down in general by around 0.5~0.8%
Chinese market down Shanghai -0.57%, SZSE -1.98%
Nikkei flat.
President Trump now facing an impeachment inquiry. Obviously if this gains serious traction it would be a significant drain on sentiment. But how much of a factor do you think it is right now?
Speaker Nancy Pelosi said on Tuesday that the United States House of Representatives would launch a formal impeachment inquiry against President Donald Trump, acquiescing to mounting pressure from fellow Democrats and plunging a deeply divided nation into an election-year clash between Congress and the president.
The announcement came amid reports that Trump may have abused his presidential powers and sought help from a foreign government to undermine former Vice President Joe Biden, the current Democratic frontrunner, and help his own re-election.
US President Donald Trump said on Wednesday he decided to release a summary of a controversial phone call with Ukraine's leader because "horrible things" were being reported about it, but that he did not like the precedent of releasing details of such calls.
"I don't like the precedent," Trump said at a news conference on the sidelines of a UN General Assembly meeting. "I don't like it where you're dealing with heads of state and to think that their call is going to be released."
In any case, impeachment process will most likely not to result into actual impeachment given that you need 2/3 the vote for it to happen.
However, this will make Trump to focus on re-winning the presidential election next year.
Clearly need for some kind of deal with China is likely.
The U.S. and Japan have signed a trade deal on the sidelines of the UN General Assembly. Prime Minister Abe saying it's win-win, but do investors think this is a big deal? And for Korea, as a competitor of Japan in the U.S. market, what
