South Korea Says Fed Rate Hike Has Limited Impact on Domestic Markets

South Korea's Ministry of Economy and Finance said the country's financial regulators believe the Federal Reserve's rate hike has had limited impact on South Korea's domestic markets, adding that the market has largely priced in the expectation and overall financial conditions remain stable. According to Sina Finance, the remarks were made at a meeting held after the Fed's policy decision, attended by Economy and Finance Minister Koo Yun-cheol, Bank of Korea Governor Shin Hyun-song, and heads of financial regulatory agencies. South Korean authorities said volatility in the government bond market has increased and that they will take necessary market-stabilization measures if excessive moves occur. They also said they will closely monitor oil prices and global capital flows and jointly assess their impact on domestic financial and foreign exchange markets.