South Korea president seeks reset after approval rating nosedive
South Korean President Lee Jae Myung will seek to reverse hemorrhaging public support and get his policy agenda back on track at a high-stakes Friday press briefing, even as a barrage of criticism from Donald Trump narrows his room to maneuver.
Asian equities and bond markets saw gains as a decline in oil prices eased inflation concerns. The Kospi index in South Korea led the advances. The S&P 500 Index rose 1.1% on September 17, marking the largest gain since early August. US stocks rebounded after losses triggered by the Federal Reserve's first rate hike since 2023. Brent crude prices fell for a third consecutive day, declining to just below $104.00 a barrel as supply concerns eased and traders focused on potential US-Iran diplomacy.
Oil's decline helped US Treasuries rally across the yield curve, with the 10-year yield falling to 4.93%. China sought Iranian help to curb Houthi militants in Yemen, potentially easing disruptions around the Bab el-Mandeb strait. The BOE left its benchmark rate unchanged and scrapped plans to sell long-dated gilts. Japan's inflation slowed for the first time in four months. The yen was steady ahead of the BOJ's interest rate decision.
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- South Korea’s Kospi climbs as Asian stocks, bonds gain; oil extends decline businesstimes.com.sg
- South Korea to extend fuel tax cut through November amid price burdens nst.com.my
- South Korea extends fuel-tax cuts until end of November channelnewsasia.com
