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Financial markets stable despite geopolitical worries: regulator

All Headlines 14:32 April 11, 2017

SEOUL, April 11 (Yonhap) -- South Korea's financial regulator said Tuesday geopolitical concerns won't impact financial market stability, while warning that it will sternly deal with spreading unfounded rumors.

Jin Woong-sup, chairman of the Financial Supervisory Service, held an emergency meeting earlier in the day as the nation's stocks and currency lost ground over uncertainties centered on North Korea's nuclear and missile programs.

In a statement, the regulator said the financial markets have remained "stable without getting agitated," although "geopolitical risks recently grew over North Korea."

A U.S. missile strike on a Syrian air base is seen as a warning against other nations that Washington can use force if the need arises. U.S. Secretary of State Rex Tillerson made a reference to North Korea after Washington struck the military installation, which is suspected of having launched a deadly chemical attack on Syrian civilians.

The U.S. also ordered the Carl Vinson battle group to waters near the Korean Peninsula, with officials saying the move is aimed at keeping a high level of readiness in the region. The carrier further fueled speculation of possible military confrontation that caused jitters among some investors.

On Monday night, North Korea denounced the "reckless" deployment of the U.S. aircraft carrier, warning that Pyongyang "is ready to react to any mode of war."

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