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Global markets show mixed signals amid persistent uncertainty
Global stock markets presented a mixed picture on Friday as Asian equities rallied and European futures slipped. Investors remained cautious, navigating geopolitical tensions and reassessing economic prospects ahead of key US manufacturing data.
Global markets experience mixed movements, capping a volatile week.
The dollar index retreats after reaching a two-year peak.
China’s 10-year government bond yield dips below 1.6% for the first time in history.
South Korea leads Asian gains
Asian stocks rebounded, with South Korea’s KOSPI Index surging nearly 2%, bolstered by government pledges to implement market-stabilization measures if volatility intensifies. Political uncertainty eased as South Korean investigators abandoned efforts to arrest impeached President Yoon Suk Yeol, following public outcry and protests.
China's economic pressures mount
In China, financial markets signaled deepening concerns over economic stability. The 10-year government bond yield fell below 1.6% for the first time, reflecting investor unease. Chinese equities continued their worst start to the year since 2016, underscoring challenges in the world’s second-largest economy.
US Dollar retreats from highs
The US Dollar Index pulled back from a two-year high reached on Thursday, as risk sentiment shifted slightly. Despite its retreat, the dollar remains a favored haven amid ongoing market volatility.
US steel deal blocked
In a move with potential diplomatic implications, President Joe Biden reportedly blocked Nippon Steel’s bid to acquire US Steel, citing national security concerns. The decision, expected to be formally announced soon, has sparked worries about US-Japan trade relations.
