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S. Korea sees limited impact on financial markets from Trump's diagnosis

Economy 14:07 October 06, 2020

SEJONG, Oct. 6 (Yonhap) -- South Korea's vice finance minister said Tuesday the government sees a limited impact on financial markets after U.S. President Trump tested positive for the new coronavirus.

Trump returned to the White House on Monday night after receiving treatment for COVID-19, declaring, "I feel good."

However, the severity of Trump's virus symptoms is likely to increase volatility over the U.S. presidential election, Kim told a policy meeting with senior officials from financial regulators and the Bank of Korea.

Kim said the government will swiftly act to stabilize financial markets if excessive volatilities arise.

South Korea's benchmark stock index jumped by more than 1 percent to extend its winning streak to a fourth session Monday, as investor sentiment improved on hopes for fresh economic stimulus in the United States.

The Korean currency closed at 1,163.4 won per dollar Monday, up 6.1 won from the previous session's close.

Vice Finance Minister Kim Yong-beom speaks at a policy meeting on Oct. 6, 2020. (Yonhap)

kdh@yna.co.kr
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