Global Stocks Diverge as Rising Bond Yields Offset Relief From Falling Oil
publishers 57articles 105first reported 23 Sep, 23:47 UTCdeveloping since 23 Sep · 40 editions
Global stock markets diverged Tuesday as rising bond yields pressured technology and dividend shares, while falling oil prices supported equities in India and Europe.
South Korea’s Kospi reversed an early gain and closed 0.89% lower at 6,941.39, led by technology stocks. Samsung Electronics fell 1.45% and SK hynix declined 3.69%. Foreign and institutional investors were net sellers as markets weighed multidecade-high bond yields, higher energy costs and renewed inflation concerns. The Korean won strengthened slightly to 1,343.6 per U.S. dollar.
Higher U.S. Treasury yields also weighed on income-oriented stocks, according to CNBC. Utilities, real estate and materials shares have declined as bonds offer more competitive returns. At the same time, investors put more than $3.2 billion into the iShares 20+ Year Treasury ETF over the past month, while ultrashort bond funds drew nearly $20 billion in September.
Elsewhere, lower crude prices lifted sentiment. India’s Sensex rose 0.95% to 73,067.81 and the Nifty gained 0.98% to 22,776.10 after Brent crude fell 1.7% to $98.59 a barrel. Reliance Industries and bank stocks contributed to the advance.
European markets also climbed as lower oil prices eased inflation concerns. The Stoxx 600 gained 0.4%, Germany’s Dax rose 0.8% and France’s CAC 40 added 0.4%. Irish airline Ryanair advanced 2.28%, while European healthcare stocks recorded gains.
HOW THIS STORY WAS MADE
Written from 8 articles, 4 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 138 h after the record first saw the story; the editor kept it as written.
- Publishers
- 57
- Source articles
- 105
- Given to the writer
- 8, 4 with the article's own text
- Independent newsrooms
- 8
- This version written
- 138 h after the record first saw the story
- Second model (editor)
- kept as written
- Publication gate
- passed
- Human review
- none
WHAT THE EDITOR DID
The second model checked the writer's draft against the same sources and published it as written.
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