CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

1 Month USD/KRW Holding Sub 1300, Nearly $1bn In Offshore Inflows On Monday

KRW

1 month USD/KRW got to lows around 1290 late in Asia Pac trade on Monday, before steadily recovering. By late in NY trade we were back in the 1297/98 region, which is where onshore spot finished up yesterday (1297.45). Still, the 1 month NDF recorded a 0.77% gain for Monday's session, bringing won gains since last Tuesday to nearly 4%.

  • A lot of focus yesterday was on the surge in local equities, following the short selling ban. To recap, the Kospi finished 5.66% higher, the Kosdaq 7.34%. Offshore investors added $917mn to local equities. This was the largest daily inflows since August 2021. Won correlations with local equity moves still appear firm.
  • Also helping sentiment has been a broader turnaround in global tech indices, although Monday US trade saw the SOX index dip slightly (-0.28%). However, the MSCI IT index rose 0.68%, its 7th straight session of gains.
  • There is some concern the short-selling ban may hurt Korea's prospects for inclusion in global equity market indices (see this BBG link for more details).
  • The data calendar is quiet today but note that the BoK minutes from the last policy meeting are out at 4pm local time.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.