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World shares are mixed and oil prices surge more than 2%
AP News • • business
Key Points:
- Asian stock markets advanced, led by South Korea’s Kospi which surged nearly 6%, recovering from a sharp decline the previous day due to AI-related selling pressure.
- The U.S. Treasury Department announced plans to at least double its purchases of longer-term government debt, which helped ease bond market pressures by pushing bond prices higher and yields lower.
- Major Asian indexes including Japan’s Nikkei 225, Hong Kong’s Hang Seng, Shanghai Composite, Australia’s S&P/ASX 200, Taiwan’s Taiex, and India’s Sensex all posted gains.
- U.S. Treasury yields fell following the debt buyback announcement, alleviating investor concerns about rising yields linked to inflation and geopolitical tensions, though yields remain elevated compared to pre-Iran war levels.
- Oil prices increased slightly amid stalled U.S.-Iran negotiations, with Brent crude rising to $92.88 per barrel and U.S. crude reaching $85.52 per barrel.
