1 week ago
World Shares Mixed as US Debt Buybacks Expand
Stock markets around the world moved in different directions on Thursday.
Many Asian markets rose, while European markets opened lower.
South Korea’s main stock index jumped nearly 6 percent after falling sharply the day before.
Technology companies Samsung Electronics and SK Hynix helped lift that index.
The US Treasury said it would buy at least twice as much long-term government debt as previously planned.
Buying bonds can push their prices up and their interest rates, called yields, down.
Lower yields may make investors less worried about pressure from the bond market.
Oil prices also increased because talks between the United States and Iran showed little progress.
European shares opened lower after gains across most Asian markets.
South Korea’s Kospi surged 5.9%, with Samsung Electronics up 9.5% and SK Hynix up 12.7%.
The US Treasury Department said it would at least double planned purchases of longer-term government debt.
US Treasury yields declined, including the 10-year yield, which fell to nearly 4.65% from 4.71%.
Oil prices rose as US-Iran negotiations made little progress, with Brent crude reaching $93.61 a barrel.
- Who
- Global investors, the US Treasury Department, Asian and European stock markets, and companies including Samsung Electronics and SK Hynix.
- What
- World shares traded mixed after the US Treasury expanded planned purchases of longer-term government debt.
- Where
- Global markets, including the United States, Europe, Japan, South Korea, Hong Kong, mainland China, Australia, Taiwan, and India.
- When
- Thursday, following the Treasury Department’s announcement; the report also cites market levels from Tuesday and Wednesday.
- Why
- The expanded debt purchases appeared to ease pressure from rising bond yields, while oil prices rose because US-Iran negotiations made little progress.
Key facts
- Kospi
- Rose 5.9% to 6,852.58 after falling 5.8% on Wednesday.
- US 10-year Treasury yield
- Fell to nearly 4.65% from 4.71% on Tuesday.
- US 30-year Treasury yield
- Declined to around 5.19% from 5.28% on Tuesday.
- European markets
- Germany’s DAX fell 0.6%, France’s CAC 40 slipped 0.1%, and Britain’s FTSE 100 shed 0.3%.
- Japan’s Nikkei 225
- Gained 1.4% to 66,216.79.
- Brent crude
- Rose 2.2% to $93.61 a barrel, compared with roughly $72 before the war.
- US debt buybacks
- The US Treasury said planned purchases of longer-term government debt would at least double.
Sources
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