S Korea finance minister says ready to take steps to stabilise markets if needed
[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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Israel concerned over possible ICC arrest warrants related to Gaza war
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
G7 reaches deal to exit from coal by 2035
US, Britain urge Hamas to accept Israeli truce proposal
Saudi Arabia says economic revamp momentum intact as plans shift
German inflation creeps up to 2.4% in April