S. Korea to closely monitor impact of upcoming U.S. midterm elections

What happened: South Korean financial authorities said they will closely monitor the impact of the U.S. midterm elections on financial markets and take immediate countermeasures if sharp fluctuations occur, Why it matters: Finance Minister Lee Hyoung-il said earnings and investment outlooks for major tech firms and global oil prices are fueling volatility, and that the composition of the U.S. Congress and changes in Washington's external policies need monitoring. He said fundamentals remain sound and timely stabilization measures such as emergency bond buybacks will be used when necessary.

South Korean financial authorities said they will closely monitor the impact of the U.S. midterm elections on financial markets and take immediate countermeasures if sharp fluctuations occur,

Finance Minister Lee Hyoung-il said earnings and investment outlooks for major tech firms and global oil prices are fueling volatility, and that the composition of the U.S. Congress and changes in Washington's external policies need monitoring. He said fundamentals remain sound and timely stabilization measures such as emergency bond buybacks will be used when necessary.