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Technology Stocks Lead Asian Markets' Gains
Asian stocks experienced a strong rally, with the South Korean Kospi index leading the gains by approximately 7%, supported by an 11% surge in SK Hynix's shares. China’s markets stabilized after unexpectedly experiencing a 1% increase in retail sales, while industrial production surpassed expectations with a 5.3% rise. Additionally, U.S. Treasury bond yields fell to 4.58%, as the prospects of a rate hike this month were ruled out.
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