South Korea’s finance ministry responded on Oct. 16 to the recent sharp decline in local equities, saying authorities are closely watching whether volatility in the stock market spreads into the bond, foreign exchange, and money markets. The government and related agencies said they will step up monitoring of the stock market and take firm action against any conduct that disrupts market order. In the same statement, the ministry said the fundamentals of the South Korean stock market remain solid, citing expectations for strong economic growth, a current account surplus, and improving corporate earnings. The response followed an earlier development in which South Korea’s financial regulators convened an emergency meeting on the stock market plunge on the previous afternoon. After that meeting, the decline in equities narrowed somewhat.
South Korea’s finance ministry said on Oct. 16 that it is closely monitoring whether recent volatility in the stock market could spread to the bond, foreign exchange, and money markets.
The government and related agencies said they will strengthen monitoring of the stock market and respond firmly to any behavior that disrupts market order.
In its statement, the ministry said the fundamentals of the South Korean stock market remain solid, pointing to expectations for strong economic growth, a current account surplus, and improving corporate earnings.
Earlier reports said South Korea’s financial regulators held an emergency meeting on the stock market plunge on the previous afternoon. After that, the market’s losses narrowed somewhat.
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