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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.
KRW
1 month USD/KRW continued to push higher post the Asia close yesterday. We got just above 1362, before closing at 1359.35. This delivered a +1.48% gain in the pair for Monday's session. Note the 100-day EMA comes in around 1362. Onshore spot ended yesterday at 1354.90.
- The BoK consumer sentiment index has already printed, the headline slipping to 86.5 from 88.8 last month. This puts us close to the July trough of 86.0. Inflation expectations continued to edge down, 4.2% from 4.3% in October. Note the July peak was 4.7%.
- The equity lead for the Kospi is a negative one today, the SOX fell 1.77% overnight, the MSCI IT down 1.27%, with both indices underperforming broader equity trends.
- To recap, the Kospi lost 1% yesterday, while offshore investors sold -$158.9mn in local shares. This brings net outflows for the past 5-days to -$531.7mn, see the chart below.
- Finally, the authorities are continuing to monitor short term money markets and stand ready to announce additional support measures for the credit space.
Fig 1: South Korea Net Equity Flows Losing Momentum
Source: MNI - Market News/Bloomberg
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.
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