Currency traders work near the screen showing the Korea Composite Stock Price Index at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, May 16, 2024. A currency trader passes by the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, May 16, 2024.
In Australia, the S&P/ASX 200 advanced 1.7% to 7,881.30 while South Korea’s Kospi climbed 0.8% to 2,753.00.South Korea stresses need for fair treatment for Line chat app operator NaverOn Wednesday, the S&P 500 jumped 1.2% to top its prior high set a month and a half ago, closing at 5,308.15. The Dow Jones Industrial Average added 0.9% to 39,908.00, and the Nasdaq jumped 1.4% to 16,742.39, adding to its own record set a day earlier.
Real-estate stocks in the S&P 500 climbed 1.7%, while stocks of electricity companies and other utilities rose 1.4%. The dividends they pay look better to investors when bonds are paying less in interest. In the bond market, the yield on the 10-year Treasury eased to 4.34% from 4.45% late Tuesday. The two-year yield, which moves more closely with expectation for Fed action, sank to 4.72% to from 4.82%.
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