Trade Tensions
Kospi dips nearly 2 percent on valuation woes and U.S.-China trade tensions
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South Korean stocks closed 1.8 percent lower on Friday, capping a turbulent week amid concerns over an AI bubble and renewed U.S.-China trade tensions. The Kospi index tumbled to 3,953.76, while the won weakened to a seven-month low against the dollar. Foreigners and institutions sold off shares heavily.
Analysts are warning that Bitcoin could slide to $58,000 due to macroeconomic pressures rather than technical charts. Restrictive Federal Reserve policies, tight liquidity, and stalled rate cuts are key factors. Global trade tensions and potential tariffs are also squeezing cryptocurrency markets.
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A Korea Times-commissioned poll shows South Koreans expect the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju to boost diplomatic prestige and cultural promotion. Many view the Trump-Xi meeting as key to easing trade tensions, with potential gains for the Lee government. Yet, concerns persist that without tangible economic results, the event could backfire.