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Asian stocks gains amid bond and chip rally
Asian stocks rose today, Thursday, supported by the U.S. Treasury Department's easing of pressures on the bond market. The department announced that it would double its long-term debt repurchase operations to at least $4 billion per month starting in September, which helped lower 30-year bond yields to 5.18%. Indices such as the KOSPI and Nikkei also saw sharp gains, driven by a renewed rally in semiconductor company stocks, including SK Hynix and Samsung Electronics, which announced investment and share repurchase programs worth tens of billions of dollars. This coincided with rising oil prices amid ongoing economic pressures on Iran, as well as gains in Chinese tech stocks, particularly those related to artificial intelligence.
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