South Korea put its financial markets under a close watch Wednesday to monitor the impact of the US presidential election, pledging quick steps to curb excessive volatility.
Vice Finance minister Choi Sang-mok warned that the result of the US election could increase volatility in South Korea's financial markets whoever wins.
"Excessive market volatility is not desirable. We will closely monitor the markets .... and take quick measures to curb excessive volatility," he told a meeting of financial and central bank officials.
Choi called for a close watch on global and domestic markets, saying South Korea should be on guard against potential downside risks such as heightened trade protectionism and an interest rate hike in the United States.
He urged domestic and foreign investors to act in a calm manner amid concerns that a victory by Republican candidate Donald Trump would heighten uncertainties.
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