Short Comment
There was a big political event yesterday: three way meeting of leaders of the US and two Koreas. The meeting was out of nowhere and the media in the republic has been being fanatical about it.
In fact, it is just one of the events which show showmanship of President Trump who is targeting the second office. Moon Jae-In, President of South Korea, and his administration want to believe it is going to be new stage for the peace, so they are strongly promoting their successful achievement. However, nothing is different from former events. It is just another talk-show without any legalized papers or compulsory measures.
Of course, market participants are not buying their promotion. Hong Kong market is in the rest today, but Japanese NIKKEI225 had risen by more than 2% today. On the other hand, KOSPI200 went down by 0.08%. Yields of Korean government bonds went down too.
The local media is in enthusiasm again for the meeting, but it does not mean a thing at least in local financial market. Everyone knows it.
There was a big political event yesterday: three way meeting of leaders of the US and two Koreas. The meeting was out of nowhere and the media in the republic has been being fanatical about it.
In fact, it is just one of the events which show showmanship of President Trump who is targeting the second office. Moon Jae-In, President of South Korea, and his administration want to believe it is going to be new stage for the peace, so they are strongly promoting their successful achievement. However, nothing is different from former events. It is just another talk-show without any legalized papers or compulsory measures.
Of course, market participants are not buying their promotion. Hong Kong market is in the rest today, but Japanese NIKKEI225 had risen by more than 2% today. On the other hand, KOSPI200 went down by 0.08%. Yields of Korean government bonds went down too.
The local media is in enthusiasm again for the meeting, but it does not mean a thing at least in local financial market. Everyone knows it.
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