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SOUTH KOREA: Country Wrap :  BOK on Hold Next Week on KRW Concerns. 

SOUTH KOREA
EM BulletBulletSouth KoreaAPACEmerging Market News
  • The Chosun Daily reports that the “Korean Government is contemplating a supplementary budget for 2025 to counter weak domestic demand and a contraction in GDP.”.(source: MNI – Market News).
  • With rumours circling about a possible fiscal response to the weakening economy, we are inclined to think the BOK remains on hold next week to allow the currency to stabilize and the effects of the prior cut to flow through the economy (source: MNI – Market News)
  • The KOSPI has continued its very strong week up +0.80% today and is on track to finish almost 3% ahead for the week.
  • KRW has broken the recent run of weak days, up 0.12% today but down 0.15% this week.
  • Bonds have had a very strong week with the SK 10yr 8.5bps lower at 2.972%.
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  • The Chosun Daily reports that the “Korean Government is contemplating a supplementary budget for 2025 to counter weak domestic demand and a contraction in GDP.”.(source: MNI – Market News).
  • With rumours circling about a possible fiscal response to the weakening economy, we are inclined to think the BOK remains on hold next week to allow the currency to stabilize and the effects of the prior cut to flow through the economy (source: MNI – Market News)
  • The KOSPI has continued its very strong week up +0.80% today and is on track to finish almost 3% ahead for the week.
  • KRW has broken the recent run of weak days, up 0.12% today but down 0.15% this week.
  • Bonds have had a very strong week with the SK 10yr 8.5bps lower at 2.972%.