Asian stocks climb on South Korea news
Asian stocks generally rose, led by South Korea, despite declining oil prices and concerns about rising U.S. Treasury yields, which affected investor sentiment and resulted in several weekly losses across key indices. The rally in the Korean market was driven by technology stocks, particularly SK Hynix and Samsung, following plans for share repurchases and announcements related to dividend management. In contrast, the Japanese Nikkei 225 index declined due to rising inflation and expectations of interest rate hikes, while Hong Kong experienced positive performance after a previous decline, amid ongoing worries about the economic repercussions on global markets. Oil prices remained elevated above $93 per barrel, supported by developments in the Middle East, especially tensions with Iran, reflecting persistent geopolitical concerns and their impact on the global market.
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