South Korea’s benchmark index leads gains after SK Hynix surges on buyback news and US debt operations ease bond market pressure.
Asian equities rose on Thursday, led by South Korea’s KOSPI, which climbed nearly 6% intraday. SK Hynix shares jumped over 5% following a buyback announcement, driving the broader index higher. Japan’s Nikkei 225 and Hong Kong’s Hang Seng gained 1%, while China’s Shanghai Composite edged up 0.25% after the PBOC held lending rates steady for the 15th consecutive month.
The US Treasury’s plan to double buyback operations for long-dated debt pushed the 30-year yield down from its highest level since June 2007. This move eased bond market pressures, with similar trends observed in Australia and Japan. However, hawkish FOMC minutes released Wednesday suggested potential rate hikes in 2026, tempering some market optimism.
Oil prices remained volatile as traders awaited further developments in the Middle East crisis. US threats of severe sanctions on Iran and nations aiding Tehran added to geopolitical uncertainty, though equities largely shrugged off the risks.