Geopolitical tensions in the Middle East drove up oil prices and reignited inflationary concerns, while news of China's advancement in semiconductor technology severely dampened investor sentiment. As appetite for risk assets weakened, increased profit-taking centered around tech stocks left the market mixed.
Global crude oil prices surged as Middle East geopolitical tensions escalated following Yemen's Houthi rebel attack on a Saudi Arabian airport.
Global semiconductor stocks weakened across the board as China's ChangXin Memory Technologies (CXMT) announced progress in next-generation DRAM development and plans to enter the server memory market.
The Cleveland Fed President stressed the need for restrictive monetary policy and modest, prompt rate adjustments to contain inflation.
Major Big Tech stocks showed mixed trading as Meta unveiled its new top-performing AI model while Microsoft announced its custom AI chip.
The KRW/USD rate fell due to strong semiconductor exports and dollar-selling inflows, while the KRW/JPY rate hit an 18-year low.
As U.S. Treasury yields hit multi-decade highs, Wall Street bargain hunting has stepped in, somewhat easing market anxiety over interest rates. Additionally, investor sentiment toward low-PBR asset stocks is improving significantly amid growing expectations of asset revaluation driven by a policy mandating footnote disclosures of officially assessed land prices for corporate real estate holdings.
US 10-year Treasury yield surges to 5.37% intraday, hitting a 24-year high
Financial authorities finalize mandatory footnote disclosure of officially assessed land prices under the cost model through accounting standard revisions for tangible assets
BlackRock retracts its US Treasury underweight stance, and major Wall Street investment banks upgrade the buying attractiveness of US Treasuries
US 10-year Treasury yield records 5.24% and 2-year Treasury yield records 4.80%
US September Consumer Price Index (CPI) scheduled for release
US September Producer Price Index (PPI) scheduled for release
