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South Korean stocks nosedive
Members and supporters of South Korean opposition parties gather in front of the National Assembly in Seoul, South Korea, on Wednesday, Dec. 4, 2024.
Bloomberg | Getty Images
South Korea’s financial markets took a downward turn on Wednesday, as an outbreak of political turmoil left investors uncertain about the country’s prospects.
A coalition of South Korean lawmakers plans to begin impeachment proceedings against President Yoon Suk Yeoul, after he unexpectedly imposed martial law — a decision that triggered protests in Seoul, before being reversed in the country’s parliament within a matter of hours.
The South Korean Kospi index shed 1.4% by 6:42 a.m. London time, while the Kosdaq was trading around 2% lower. The Korean won erased some of its losses from Tuesday, with the U.S. dollar standing at around 1,410.31 won during early trades.
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— Chloe Taylor
CNBC Pro: ‘We really like the U.S.’ Julius Baer portfolio manager says. Here’s where she sees opportunity
At a time when investors are mixed on the U.S. market, one portfolio manager remains optimistic and sees reason to stay invested over the longer-term.
“We really like the U.S. Now that the election result is clear and behind us, we can reasonably assume a higher growth rate in the U.S., and that’s probably going to lead to an end of year rally,” Aneka Beneby, portfolio manager at Julius Baer International said, revealing segments she sees opportunities in.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
CNBC Pro: How are investors trading France’s political chaos?
The French government is on the brink of collapse this week and investors are gearing up for a volatile week of trading, with some eyeing opportunities amid the chaos.
Investors have shared how they’re trading French bonds and laid out what could happen if the government falls, and other scenarios.
CNBC Pro subscribers can read more here.
— Ganesh Rao
Tue, Dec 3 202412:00 AM EST
European markets: Here are the opening calls
European markets are expected to open higher Tuesday.
The U.K.’s FTSE 100 index is expected to open 18 points higher at 8,322, Germany’s DAX up 15 points at 19,922, France’s CAC up 29 points at 7,245 and Italy’s FTSE MIB up 43 points at 33,601, according to data from IG.
Data releases Tuesday include U.K. retail sales and Spanish unemployment figures.
— Holly Ellyatt
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