South Korean stocks open nearly 2% lower
South Korean stocks opened lower on Wednesday, after a day of political turmoil in South Korea that saw President Yoon Suk Yeol impose and then lift a martial law decree within hours.
South Korea’s Kospi fell 1.8% while the Kosdaq dropped 1.7%.
Amid concerns about financial instability, a Bank of Korea official reportedly said the bank’s monetary policy board will hold an extraordinary board meeting around 9 a.m. KST.
The South Korean government has announced it will inject unlimited liquidity into financial markets for as long as needed in an effort to calm sentiment, according to Reuters.
The Korea Stock Exchange has announced that the country’s stock market will open as usual at 9 a.m.
Other Asia-Pacific stock markets opened mixed as investors digested events in South Korea.
Australia’s S&P/ASX 200 opened 0.3% lower.
Japan’s Nikkei 225 traded 0.2% higher, and the Topix rose 0.05%.
Hong Kong's Hang Seng index futures were at 19,785, higher than the HSI's last close of 19,746.32.
Source: FXStreet
