Asian shares gain, with South Korea’s Kospi up 6%, after the US Treasury expands its debt buybacks

Asian shares advanced Thursday, tracking Wall Street gains, and South Korea’s benchmark Kospi jumped more than 6%. This was reported by Qazaqyia.kz citing Associated Press.

U.S. futures edged higher after the U.S. Treasury Department said it would at least double the size of planned purchases of longer-term government debt. That could ease pressure on share prices emanating from the bond market since the purchases would push bond prices higher, helping to bring down yields.

The Kospi surged 6.1% to 6,858.91 after sinking 5.8% on Wednesday on renewed selling of shares related to artificial intelligence.

Samsung Electronics jumped 9.7%, while memory chipmaker SK Hynix surged 14.1%.