Tuesday, 10 Jun 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • House
  • White
  • VIDEO
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Colossal
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > South Korean stocks rebound from lows as president says he’s lifting martial law
Economy

South Korean stocks rebound from lows as president says he’s lifting martial law

Last updated: December 3, 2024 7:26 pm
Share
South Korean stocks rebound from lows as president says he’s lifting martial law
SHARE

South Korean stocks experienced significant volatility in the U.S. market on Tuesday due to political turmoil in Korea. President Yoon Suk Yeol was compelled to revoke an earlier declaration of emergency martial law, causing concerns about instability in the country’s economy, which is ranked as the 13th largest in the world.

The iShares MSCI South Korea ETF (EWY), a fund that includes more than 90 large and mid-sized South Korean companies, plummeted by as much as 7%, reaching a 52-week low. However, the ETF managed to recover some of its losses and closed the day down by 1.6% after President Yoon announced the withdrawal of the martial law decree following the National Assembly’s vote to overturn it.

Despite the rebound, the ETF is still facing its fifth consecutive day of decline with unusually high trading volume. Trading volume exceeded 35 million shares on Tuesday, which is more than 10 times the average volume over the past 30 days.

U.S.-traded shares of Korean companies also experienced fluctuations. Korea Electric Power’s American depositary receipts (ADRs) fell over 2%, while e-commerce giant Coupang saw a decline of 3.7%. KT Corp. and Posco, a South Korean steel manufacturer, also witnessed drops in their share prices.

Within three hours of President Yoon’s martial law declaration, 190 out of the 300 National Assembly lawmakers convened to overturn the emergency order. The president accused opposition parties of aligning with North Korea and controlling the parliament, without specifying the impact of martial law on governance and democracy in the country.

In response to the situation, the White House National Security Council stated that they are in communication with the South Korean government and closely monitoring the developments. Under the martial law declaration, all political activities and actions that could incite social unrest are prohibited. This marks the first instance of a South Korean leader declaring martial law since 1980.

See also  Amazon warns on trade war hit as profit outlook misses forecasts

The Korea Exchange announced that the stock market would resume trading as usual at 9 a.m. KST on Wednesday. The U.S. dollar strengthened by approximately 0.9% against the South Korean won on Tuesday.

The events in South Korea have raised concerns about the stability of the country’s economy and the impact of political turmoil on financial markets. Investors will be closely watching for further developments in the coming days to assess the long-term implications of the situation on South Korea’s economic prospects.

TAGGED:HesKoreanlawLiftinglowsmartialpresidentReboundSouthstocks
Share This Article
Twitter Email Copy Link Print
Previous Article Israeli bombings destroy lives – and nature Israeli bombings destroy lives – and nature
Next Article ‘Surreal Elderhood’ using OpenAI’s text-to-video model, Sora ‘Surreal Elderhood’ using OpenAI’s text-to-video model, Sora
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Early exposure to air pollution could affect brain development and mental health later in life: New research

Air pollution has long been known to have detrimental effects on our health, but a…

March 29, 2025

Natalie Portman Swaps Dad Shoes for a Gauzy Gown

Natalie Portman is a true fashion chameleon, effortlessly transitioning from casual chic to red carpet…

May 27, 2025

Katy Perry Mourns Late Hair Stylist Jesus Guerrero

Celebrity hairstylist Jesus Guerrero's sudden passing has left many in mourning, including former client Katy…

March 2, 2025

Exercise Intolerance Is Common Among People With Persistent Long Covid: Study

Study Reveals Persistence of Post-Exertional Malaise in Long Covid Patients Washington DC, USA- September 19:…

January 26, 2025

Cannes, Parts Of Southern France Suffer Major Power Outage, Probe Underway

Cannes: Authorities in France are currently investigating a possible arson attack as the main cause…

May 24, 2025

You Might Also Like

BREAKING: Clinton Judge DENIES Newsom’s Request For Immediate Restraining Order Against President Trump for Use of Military in LA |
Politics

BREAKING: Clinton Judge DENIES Newsom’s Request For Immediate Restraining Order Against President Trump for Use of Military in LA |

June 10, 2025
US oil output set for first annual drop since pandemic
Economy

US oil output set for first annual drop since pandemic

June 10, 2025
Pentagon should shave defense procurement regulation, industry group says
Economy

Pentagon should shave defense procurement regulation, industry group says

June 10, 2025
BlackRock’s smallest deal of 2024 may end up being its most consequential
Economy

BlackRock’s smallest deal of 2024 may end up being its most consequential

June 10, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?