S. Korean central bank: Will take necessary action if needed to stabilize markets

Following a meeting in its Seoul chaired by Senior Deputy Gov. Yoon Myun-shik to review the local equity market, South Korea’s central bank, the Bank of Korea, cited the key highlights in its press release.

The country’s financial market fundamentals remain solid despite the recent stock rout.  

“Although volatility of the stock market widened recently, we found out that confidence in the market’s fundamentals is still strong.”

“We saw relatively stable movements in the bond and foreign exchange markets.”

“The volatile market will likely continue for a while due to foreign downside risks, such as lingering U.S.-China trade disputes and a U.S. rate hike schedule.”

“We will keep close tabs on the market and take market stabilization measures if necessary.”