South Korea’s Kospi climbs as Asian stocks, bonds gain; oil extends decline
MSCI’s regional equities gauge advances 0.3%, mirroring gains in the S&P 500 which rose 1.1% on Sep 17
Asian equities and bond markets saw gains as a decline in oil prices eased inflation concerns. The Kospi index in South Korea led the advances. The S&P 500 Index rose 1.1% on September 17, marking the largest gain since early August. US stocks rebounded after losses triggered by the Federal Reserve's first rate hike since 2023. Brent crude prices fell for a third consecutive day, declining to just below $104.00 a barrel as supply concerns eased and traders focused on potential US-Iran diplomacy.
Oil's decline helped US Treasuries rally across the yield curve, with the 10-year yield falling to 4.93%. China sought Iranian help to curb Houthi militants in Yemen, potentially easing disruptions around the Bab el-Mandeb strait. The BOE left its benchmark rate unchanged and scrapped plans to sell long-dated gilts. Japan's inflation slowed for the first time in four months. The yen was steady ahead of the BOJ's interest rate decision.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- South Korea to extend fuel tax cut through November amid price burdens nst.com.my
- South Korea president seeks reset after approval rating nosedive japantimes.co.jp
- South Korea extends fuel-tax cuts until end of November channelnewsasia.com
