Rocket launch expected to have little impact on markets

By Park Sae-jin Posted : February 7, 2016, 13:24 Updated : February 7, 2016, 13:24

[Aju News DB]


South Korea's financial watchdog on Sunday checked the impact of North Korea's rocket launch and concluded it would not seriously affect domestic and global financial markets.

North Korea's nuclear test or its long-range rocket launch has always been a factor affecting markets as it used to raise military tensions on and around the Korean peninsula.

But Jeong Eun-bo, vice chairman of the Financial Services Commission, said the launch on Sunday is not expected to have "a big" impact on markets, although South Korea should be always ready to cope with any "unpredictable" situation.

"In view of previous experiences, we believe North Korea's latest missile launch will not have a big impact on financial markets at home and abroad," he said after an emergency meeting of market regulators.

South Korea's economic fundamentals are strong enough to absorb such a shock, although it struggles with uncertainties such as faltering exports and low oil prices, he said.

The commission and other economy-related state bodies promised to tighten their watch on markets, which will be closed for a certain period this week in South Korea, Hong Kong and China due to the Lunar New Year's holiday.

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