From Heejin Kim, Eric Lam and Gregor Stewart: (Bloomberg) — The slide in Korean stocks and the win following the failure of the Trump-Kim summit Thursday has all the signs of being a one-day wonder, with little longer-term impact on global markets.
From Zacks: As Donald trump cancelled a key summit in North Korea, Asian shares went down. On May 24, South Korea’s Kospi fell 0.65% while Japan’s Nikkei declined 0.3%.
Call it the news of the year, perhaps even of the decade. For the first time since the Korean Peninsula was divided in 1948, leaders of the two warring nations met in what had the look and feel of a jovial reconciliation between two estranged family members.
From Zacks: North Korean officials have reportedly stated that their leader Kim Jong-Un’s willingness to scrap its nuclear program, in exchange for security guarantees from the United States, South Korean officials said after their two-day visit to Pyongyang.
From Zacks: South Korea’s GDP unexpectedly contracted in fourth-quarter 2016, as weaker automobile exports overshadowed the increase in semiconductor exports. Moreover, fewer work days owing to the holiday season also weighed on economic growth.
From Zacks: South Korea’s central bank raised interest rates for the first time in more than six years. Economic fundamentals have been strong, with increased exports contributing to GDP growth.
From Zacks: South Korea’s central bank held its benchmark seven-day repurchase rate steady at 1.25%, as expected by 19 economists surveyed by Bloomberg.
From Mike Burnick: It’s no secret that I’m super-bullish on Asia. And the first half of the year has backed me up: Asian-country ETFs had an impressive first six months with total returns far outpacing their counterparts.
From Taki Tsaklanos: Emerging markets are inches away from a important event: a breakout. InvestingHaven’s research team has written repetitively about the bullish formation in emerging stocks. It has identified 3 key markets as the most bullish ones: India, South Korea and Taiwan (5 Emerging Markets To Buy In 2017 And 2018).
Lately, elections have resulted in substantial stock market rallies in many countries, first here in the U.S. beginning last November with Trump, then followed by France’s election of Macron, to today’s pop in the South Korean equity market on Moon Jae-in’s victory.
From Dana Lyons: Amid geopolitical turmoil, the South Korean Kospi just hit a new all-time high.
From Zacks: The U.S. Navy’s Carl Vinson carrier strike group, originally stationed near Singapore, was diverted toward the Korean Peninsula on Sunday, April 9, 2017, as Kim Jong Un’s North Korean regime prepares to hold a huge military parade on April 15, 2017. The parade will mark the 105th birth anniversary of its founding president […]
From Zacks: North Korean leader Kim Jong Un stated recently that the country was close to testing an intercontinental ballistic missile.
From Zacks Research: Most U.S.-listed Korean ETFs are heavily overweight electronics giant Samsung, and the company’s recent decline is flashing danger signs for these funds as a result.
Shares of iShares MSCI South Korea Index Fund ETF (NYSE:EWY) are on watch today, following news that North Korea launched three ballistic missiles off its east coast on Tuesday.