A currency trader walks by the screen showing the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Friday, May 31, 2024.
European markets opened modestly higher, with the CAC 40 in Paris up 0.1% at 7,986.65. The FTSE 100 gained 0.4% to 8,259.68, while Germany's DAX was almost flat at 18,500.20. In Asian trading, Tokyo's Nikkei 225 added 1.1% to 38,487.90 as reports circulated of plans for major investments by government-backed pension funds and other big institutional investors.The Nikkei financial news outlet said Japan is preparing to put nearly 100 trillion yen more public money into the markets, following the lead of the Government Pension Investment Fund.on an economy already burdened by a prolonged crisis in the property industry.
But stocks broadly got a boost from easing Treasury yields, providing relief after they had climbed earlier this week on worries about tepid demand for Treasury bonds following several U.S. government auctions. Higher yields put downward pressure on all kinds of investments.
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