Search ForexCrunch

Following a huge rebound in the number of coronavirus cases in South Korea and the resultant stimulus package announcement by President Moon to tackle the situation, the South’s Finance Ministry reports that it will setup a fund to stabilize bond markets.

The Ministry added that it will be all-out to stabilize stocks and bond markets.

These statements are also in the face of the over 8% slump in the domestic stock market, as the USD/KRW pair reached the highest levels since 2009. Markets speculated the authorities to have intervened to stem the won declines.

  • S. Korean exchange KOSPI halts trading after hitting the circuit breaker, down over 8%
  • S. Korean Pres. Moon: To supply 50 trillion won emergency financing for small business
  • South Korea confirms 152 new coronavirus cases, USD/KRW hits highest since 2009