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South Korean Vice Finance Minister announced on Wednesday, they will announce emergency stimulus measures to minimize the COVID -19 resurgence impact this week.

He added that they will closely monitor financial markets and actively take market stabilization measures if required.

Earlier today, S. Korea Finance Minister Hong Nam-ki noted that September jobs data to reflect the social distancing impact.

Market reaction

Despite the stimulus news, the Korean won (KRW) slipped and hit fresh daily lows against the US dollar, with USD/KRW having spiked to 1,191.12.

Although the KRW bulls quickly fought back control, as the cross now trades at 1,190, little changed on the day.