Asian shares advanced Thursday, tracking Wall Street gains, and South Korea’s benchmark Kospi jumped more than 6 per cent.
US futures edged higher after the Treasury Department said it would at least double the size of planned purchases of longer-term government debt.
That could ease pressure on share prices emanating from the bond market since the purchases would push bond prices higher, helping to bring down yields.
The Kospi surged 6.1 per cent to 6,858.91 after sinking 5.8 per cent on Wednesday on renewed selling of shares related to artificial intelligence.
Samsung Electronics jumped 9.7 per cent, while memory chipmaker SK Hynix surged 14.1 per cent after the company announced a significant share buyback plan.
Japan’s Nikkei 225 gained 1.3 per cent to 66,178.26, reversing declines earlier in the week. Japan reported it logged a trade deficit for a third straight month in July, as both imports and exports hit record highs.
Shares of OpenAI investor SoftBank Group, a Japanese
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.