Data earlier from South Korea, Q4 GDP down 0.2% q/q

  • (median expected was +0.1%)

  • Q3 was +1.5% q/q (fastest in more than seven years)

For the y/y, came in at +3%, vs. estimate at 3.4%

The poor result (worst since Q4 of 2008):

  • A fall in automobile exports
  • And an increase semiconductors exports

Despite the number the won gained against the sickly USD.