Asian stock markets are rising all at once as the US stock market rose the previous day. Korea is recording its biggest increase.
As of 11 a.m. on the 24th, the Asian stock market saw Korea’s KOSPI rise 2.09%, Hong Kong’s Hang Seng Index rise 1.29%, Japan’s Nikkei rise 0.78%, China’s Shanghai Composite Index rise 0.33%, and Australia’s ASX index rise 0.29%.
The Asian stock market is rising all at once on this day because the US stock market rose the previous day.
On the previous day, the U.S. stock market rose despite rising concerns over a slowdown. The U.S. stock market closed higher as the yield on government bonds plunged due to concerns over a slowdown.
The benchmark 10-year government bond yield fell below 3.10 percent nine days after soaring to 3.50 percent. As a result, Dow rose 0.64%, S&P 500 rose 0.95%, and Nasdaq rose 1.62%, respectively. In particular, NASDAQ, a group of interest-sensitive technology stocks, surged.
As a result, the Asian stock market seems to be rising all at once.
The reason why Korea’s rise is particularly large is attributed to the relatively large drop in the Korean stock market, which has led to a large influx of repulsive buying.
Despite the Asian stock market’s rise the previous day, Korea’s KOSPI fell more than 1%.