February 8, 2018 / 11:51 PM / 10 months ago

S.Korea vows to take action to stabilise financial markets if uncertainty spreads

SEOUL, Feb 9 (Reuters) - South Korea vowed on Friday to strengthen monitoring of financial markets and said it will take action to stabilise markets should uncertainty spread.

“We will take measures should market anxieties spread excessively,” a senior finance ministry official told Reuters by phone, asking not to be identified because of government policy.

He also said recent dent in the benchmark Kospi share index was a temporary correction after a months-long rally, noting the South Korean market’s fundamentals were strong.

The finance ministry’s remarks followed a 4 percent fall in U.S. stocks on Thursday in a correction that has thrown Wall Street market’s nearly nine-year bull run off course.

Reporting by Shin-hyung Lee and Cynthia Kim; Editing by Eric Meijer

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