EWY News Explorer

SEOUL (Reuters) -South Korea's finance ministry vowed on Sunday to continue to swiftly deploy market stabilising measures as needed to support the economy after President Yoon Suk Yeol was impeached over his brief imposition of martial law. The leader of the main opposition Democratic Party, Lee Jae-myung, called for a National Stability Council for Governance comprising the government and parliament to discuss finance, economy and public livelihoods. The Bank of Korea said in a statement that it would use all available policy instruments in conjunction with the government to respond to and avert any escalation of volatility in financial and foreign exchange markets.

Even before a short-lived declaration of martial law thrust the country into crisis, the economy faced grim prospects.

The focus is on JOLTS jobs data and Fedspeak will cement or dent growing hopes for interest rate cuts.

The iShares MSCI South Korea ETF, which tracks more than 90 large and mid-sized companies in South Korea, tumbled 6% to hit a 52-week low.