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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

South Korea finance minister says Brexit effects likely to be prolonged

Reuters
South Korea's new finance minister Yoo Il-ho answers questions from reporters during his visit to a port in Pyeongtaek, South Korea, January 15, 2016. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - South Korea's finance minister said on Sunday the effects of Britain's voting to leave the European Union would have a prolonged effect on global markets.

"The effect from Brexit is expected to be prolonged, as this is unprecedented and the interests of many countries are involved in this issue," said Finance Minister Yoo Il-ho in opening remarks at a meeting to discuss the fallout from Brexit in Seoul.

"As the negotiations regarding Brexit are dragged out, volatility in global markets may possibly last during that time."

(Reporting by Christine Kim; Editing by Larry King)