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Won Opens Modestly Weaker

KRW

The won is slightly weaker in early Asia-Pac trade, USD/KRW last up 1.25 at 1104.30.

  • There were reports in the Chosun Ilbo newspaper that the government's ruling party is considering giving cash handouts to all citizens as a stimulus effort, as well as compensating SME's for losses from the shutdown.
  • Elsewhere there were reports over the weekend that indicate that Samsung is looking to invest up $17bn in US chip production.
  • Some key data released this week, preliminary Q4 GDP will be published tomorrow – markets look for 0.9% growth Q/Q.
  • Today's session will likely see comments from the health ministry and Finance Minister Hong Nam-ki will hold a briefing with officials.

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