Chip Stocks Lead Gains as Japanese and South Korean Markets Open Higher

Deep News04-06

Tokyo and Seoul stock markets opened higher on April 6, with international precious metals declining while crude oil and Bitcoin advanced.

As of 8:24 AM Beijing time, the Nikkei 225 index rose 0.73%, led by gains in chip and electronics stocks. Kioxia Holdings gained 1.9%, while Keyence Corp. advanced 2.0%. Advantest Corp. climbed over 2%, SoftBank Group Corp. increased 1.75%, and Rohm Co., Ltd. rose more than 1%.

The Korea Composite Stock Price Index (KOSPI) extended its gains to 2%, currently trading at 5,487.59 points. Samsung Electronics Co., Ltd. surged nearly 4%, and SK Hynix Inc. rose over 2%.

Meanwhile, Japanese government bonds faced selling pressure, with the yield on the newly issued 10-year bond rising to 2.400% at one point, the highest level since February 1999. The yield on Japan’s 5-year government bond increased by 2.0 basis points to 1.815%.

Cryptocurrencies also moved higher, with Bitcoin surpassing $69,000, up nearly 3% over the past 24 hours, and Ethereum gaining 2.82%. According to CoinGlass data, more than 70,000 traders globally were liquidated in the past 24 hours, with total liquidations amounting to $252 million.

In early trading on April 6, international precious metals declined, with spot gold and spot silver both falling more than 1% at the time of writing. In the oil market, WTI crude futures advanced, rising 0.83% to $112.47 per barrel.

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