Koh Seung-beom, Financial Services Commission Chairman, "US Stock Market Rebounded but... Still Uncertain"

[Asia Economy Reporter Ji Yeon-jin] Go Seung-beom, Chairman of the Financial Services Commission, announced that he will continue to maintain a close monitoring posture on the domestic stock market and financial market trends following the Lunar New Year holiday.

On the afternoon of the 2nd, Chairman Go made these remarks during a meeting with the Vice Chairman and Secretary General of the Financial Services Commission, standing members of the Securities and Futures Commission, and key department heads, where they reviewed the trends in major markets such as the United States and upcoming issues during the Lunar New Year holiday period.

He explained, "The U.S. stock market, which experienced significant adjustments around the January Federal Open Market Committee (FOMC) meeting, has shown a rebound during our Lunar New Year holiday period due to favorable corporate earnings announcements. However, major domestic and international indicators such as the January Consumer Price Index are scheduled to be released consecutively, and uncertainties such as the situation in Ukraine remain."

The previous day, the U.S. Dow Jones Industrial Average rose 3.6% compared to the closing price on the 27th of last month, while the S&P 500 Index and Nasdaq Index increased by 5.1% and 7.4%, respectively, during the same period.

However, on the 3rd (local time), following the European Central Bank's interest rate decision, the January Consumer Price Index of Korea and U.S. employment data will be released on the 4th. On the 10th of this month, the U.S. January Consumer Price Index will be announced.

Chairman Go emphasized, "We will continue to maintain a close monitoring posture on the domestic stock market and financial market trends as they reopen after the holiday, and respond promptly according to changes in the situation."

The Financial Services Commission has raised the monitoring level to 'caution' since the 25th of last month due to increased volatility in the domestic stock market and is maintaining an enhanced level of monitoring and response.