Officials pledged “unlimited” support to markets as traders digested the implications of South Korea’s brief declaration of martial law.

South Korea's finance ministry said on Wednesday it was ready to deploy "unlimited" liquidity into financial markets after President Yoon Suk Yeol lifted a martial law declaration he imposed overnight that pushed the won to multi-year lows.

South Korean President Yoon Suk Yeol shocked the world on Tuesday by imposing martial law in what is one of Asia's most high-tech, emergent economies. Lifted within hours amid backlash from lawmakers,

The all-stock deal adds New York-based HPS, which manages approximately $148 billion in client assets, bolsters BlackRock's position in the private credit market.

But this year, BlackRock has been aggressively claiming a major foothold in the private markets. On Tuesday, it made its latest push, announcing a deal to buy HPS Investment Partners — a firm that specializes in making private loans to companies — for roughly $12 billion.

BlackRock will buy private credit firm HPS Investment Partners for about $12 billion in an all-stock deal, the companies said on Tuesday, as the world's largest asset manager seeks to expand in a red-hot market.