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S Korea finance minister says ready to take steps to stabilise markets if needed

Monday, November 14, 2016 - 11:17

[SEOUL] South Korea's finance minister said on Monday the government stood ready to act to stabilise financial markets in the wake of rising volatility after Republican Donald Trump's shock win in the US presidential election.

Emerging markets are experiencing big declines in their currencies as well as "capital outflows as their economies are swayed by policy decisions in advanced nations," Yoo Il Ho said at a Seoul forum attended by officials and financial experts.

Mr Yoo said South Korea's economy has strong fundamentals compared with other emerging economies, but added Seoul continues to monitor money markets and foreign exchange liquidity conditions in particular given the uncertain global backdrop.

REUTERS

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