Seoul shares open higher as US bond yields retreat
Seoul shares opened higher Thursday, tracking overnight gains on Wall Street as U.S. Treasury yields eased on plans for increased debt buybacks. After opening 3.23 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) pared some of its early gains, adding 197.28 points, or 3.05 percent, to 6,668.45 as of 9:15 a.m. The index plunged nearly 6 percent the previous session on tech…
Seoul's stock market opened higher on Thursday, mirroring gains on Wall Street. The Korea Composite Stock Price Index (KOSPI) rose 3.05 percent, or 197.28 points, to reach 6,668.45 by 9:15 a.m. local time. This followed a 6 percent drop the previous day, driven by concerns over rising U.S. bond yields. Earlier in the week, major U.S. indexes had closed higher as Treasury yields retreated after the Treasury Department announced plans to boost purchases of longer-term government bonds.
The 30-year Treasury bond's yield, which had hit its highest level since 2007, saw a decline alongside the 10-year Treasury yield. U.S. indices, including the Dow Jones Industrial Average and S&P 500, both gained 0.21 percent. Tech stocks in Seoul led the market's recovery, with Samsung Electronics regaining some of its previous losses, climbing 4.5 percent.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- (LEAD) Seoul shares open higher as U.S. bond yields retreat en.yna.co.kr
- Seoul shares open higher as US bond yields retreat koreatimes.co.kr
