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SOUTH KOREA: Country Wrap:  Impeachment Vote Down but Pressure on Yoon is Up.

SOUTH KOREA
EM BulletBulletSouth KoreaAPACEmerging Market News
  • An impeachment motion failed to pass the parliament on Saturday, following Yoon’s apology and indication of a possible early resignation.
  • Joint statements by the Prime Minister and Conservative Partly Leadership confirm they are preparing for transitional arrangements with the underlying message of wanting him to step aside quietly.
  • The ongoing uncertainty in Korea continued to weigh heavy on the KOSPI , again making it the worst performer in the region, down -2.50% in today’s trading, following last week’s decline.
  • KRW – the Won was the worst performing currency in the region today again down -0.88%, following last week’s decline of 2%.
  • Bonds: Korea’s 5YR government bond was a touch better today, down -0.7bp in yield at 2.643%.
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  • An impeachment motion failed to pass the parliament on Saturday, following Yoon’s apology and indication of a possible early resignation.
  • Joint statements by the Prime Minister and Conservative Partly Leadership confirm they are preparing for transitional arrangements with the underlying message of wanting him to step aside quietly.
  • The ongoing uncertainty in Korea continued to weigh heavy on the KOSPI , again making it the worst performer in the region, down -2.50% in today’s trading, following last week’s decline.
  • KRW – the Won was the worst performing currency in the region today again down -0.88%, following last week’s decline of 2%.
  • Bonds: Korea’s 5YR government bond was a touch better today, down -0.7bp in yield at 2.643%.