- CNTV English - CCTV News

S. Korea stock market among worst hit; economy remains sound

08-10-2011 09:08 BJT Special Report:After S&P Downgrades U.S. Credit Rating |

Watch Video

Play Video

South Korea's stock market has been among the worst hit by recent global volatility - even suspending trading at one point yesterday. The nation's top financial regulators have said they will closely monitor market movements and take action if necessary.

The country's financial regulator held a meeting earlier today to analyze the turbulence. Most attendees believe South Korea's economy remains sound, given the country's foreign reserves, debt structure and the health of its companies. The regular says the market is seeing short-term shocks, but that the financial system is fundamentally sound.

The government is also considering imposing a ban on the short-selling of shares to calm the current market instability. Meanwhile - no surprise here - South Korea's central bank played down the likelihood of an interest rate hike this week given all the uncertainties.

A currency trader watches monitors at the Korea Exchange Bank
headquarters in Seoul, South Korea, Tuesday, Aug. 9, 2011. Asian equity
markets were sharply down early Tuesday as investors fearing a possible
global economic slowdown continued to flee stocks.
(AP Photo/Ahn Young-joon)

Related stories

Editor:Li Wanran |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program