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S Korea's KOSPI Index Rebounds 2.5%; Gov't Warns of Tough Measures Against Any Market Disruptions
2026-10-16 10:27:46 The South Korean government pledged on Friday (16 Oct) to take tough measures against unfair practices in the capital market amid recent stock market volatility. South Korea's KOSPI Index, which plunged about 7.5% yesterday (15 Oct), rebounded 2.5% today, with heavyweight stocks SK Hynix and Samsung Electronics both rising more than 2%. Officials from South Korea's Ministry of Economy and Finance, the Bank of Korea, the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) held a market review meeting in Seoul to assess the latest developments in domestic and global financial markets and discuss possible response measures. The authorities assessed that South Korean and global equity markets are undergoing a correction phase amid expectations of rising global interest rates, uncertainty surrounding investment and corporate earnings prospects in the AI semiconductor sector, and risk-off sentiment triggered by rising international oil prices. At the same time, volatility in the South Korean stock market has been relatively higher than in other markets, partly due to its heavier weighting in AI-related industries. Officials believe that the fundamentals of South Korea's economy and stock market remain solid. Economic growth is expected to reach around 3% this year, the current account is projected to post a substantial surplus, and corporate earnings prospects remain positive. The government and relevant authorities will maintain a high level of vigilance, strengthen real-time joint monitoring, and take stringent measures against any market-disrupting activities. (mn/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |