South Korean stock market plummets
South Korean opposition lawmakers and supporters gather in front of the National Assembly in Seoul, South Korea, Wednesday, December 4, 2024.
Bloomberg | Getty Images
South Korean financial markets fell on Wednesday as an outbreak of political unrest left investors uncertain about the country’s prospects.
A coalition of South Korean lawmakers planned to launch impeachment proceedings after President Yoon Seok-yeol unexpectedly imposed martial law, a decision that sparked protests in Seoul but was overturned in the South Korean parliament within hours.
South Korea’s Kospi was down 1.4% as of 6:42 a.m. London time, while the Kosdaq was down about 2%. The South Korean won regained some of its losses from Tuesday and was trading around 1,410.31 won per dollar in early trading.
— Chloe Taylor
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Amid mixed sentiment among investors in the U.S. market, one portfolio manager remains optimistic and sees a case for staying invested for the long term.
Aneka Beneby, portfolio manager at Julius, said: “We really like the U.S. and now that the election results are clear, we can reasonably assume that U.S. growth will be higher, which could lead to a year-end rebound.
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CNBC Pro: How are investors coping with France’s political chaos?
The French government is on the brink of collapse this week and investors are bracing for a tumultuous week of trading, with some looking for opportunities amid the chaos.
Investors share how they trade French bonds and lay out what could happen if the government falls, among other scenarios.
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European Markets: Here are the opening calls
European markets are expected to open higher on Tuesday.
British FTSE 100 German index expected to open 18 points higher at 8,322 German DAX Index France rose 15 points to 19,922 CAC Up 29 points to 7,245 points, Italy FTSE MIB It rose 43 points to 33,601, according to IG data.
Data released on Tuesday includes UK retail sales and Spanish unemployment data.
— Holly Elliot
