HONG KONG (AP) — Asian shares advanced Thursday, tracking Wall Street gains, and South Korea’s benchmark Kospi jumped more than 6%.
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HONG KONG (AP) — Asian shares advanced Thursday, tracking Wall Street gains, and South Korea’s benchmark Kospi jumped more than 6%.
HONG KONG (AP) — Asian shares advanced Thursday, tracking Wall Street gains, and South Korea’s benchmark Kospi jumped more than 6%.
U.S. futures edged higher after the U.S. Treasury Department said it would at least double the size of planned purchases of longer-term government debt.
That could ease pressure on share prices emanating from the bond market since the purchases would push bond prices higher, helping to bring down yields.
The Kospi surged 6.1% to 6,858.91 after sinking 5.8% on Wednesday on renewed selling of shares related to artificial intelligence.
Samsung Electronics jumped 9.7%, while memory chipmaker SK Hynix surged 14.1% after the company announced a significant share buyback plan.
Japan’s Nikkei 225 gained 1.3% to 66,178.26, reversing declines earlier in the week. Japan reported it logged a trade deficit for a third straight month in July, as both imports and exports hit record highs.
Shares of OpenAI investor SoftBank Group, a Japanese multinational investment holding firm, added 3.8%.
Hong Kong’s Hang Seng gained 1.1% to 25,786.32, while the Shanghai Composite index rose 0.3% to 3,905.23.
Australia’s S&P/ASX 200 was up 0.3% to 9,066.40.
Taiwan’s Taiex was nearly unchanged and India’s Sensex climbed 0.7%.
Yields on U.S. government bonds fell after the U.S. Treasury Department’s announcement on its expanded plans in government debt buybacks. Bond yields fall when bond prices rise in an inverse relation.
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