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Asian stocks climb on bonds and chip gains
Asian stocks rose today, Thursday, supported by the U.S. Treasury Department's easing of bond market pressures through doubling long-term debt buybacks. This helped push down the yields on 50-year bonds to their lowest level since 2007, boosting bond market liquidity and alleviating concerns related to inflation and debt. Major stock indices rebounded, with the Korean Kospi rising by 6.4% and the Japanese Nikkei by 1.1%, amid reports of massive share buyback programs from firms, mostly in the semiconductor sector, as well as gains in Japanese auto stocks following expectations of tariff reductions. However, oil remained a key pressure on the markets, with Brent trading near $92 per barrel, amid ongoing U.S. pressure on Iran and the lack of clear legislation to reopen the Strait of Hormuz.
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