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BOK: Won Holding Modest Gains, Equities Firmer Post BoK Cut

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Market reaction to the BoK move is fairly modest so far, which is not surprising given it was widely expected to deliver the easing. USD/KRW spot sits off recent highs, last back under 1350. The won historically hasn't been that sensitive to monetary policy shifts. Onshore equities are holding in positive territory, the Kospi up close to 0.35%. While KTB futures are holding earlier gains. Focus will now be on the accompanying BoK statement and Governor Rhee's press conference to gauge follow up BoK risks. 

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Market reaction to the BoK move is fairly modest so far, which is not surprising given it was widely expected to deliver the easing. USD/KRW spot sits off recent highs, last back under 1350. The won historically hasn't been that sensitive to monetary policy shifts. Onshore equities are holding in positive territory, the Kospi up close to 0.35%. While KTB futures are holding earlier gains. Focus will now be on the accompanying BoK statement and Governor Rhee's press conference to gauge follow up BoK risks.