Kioxia Holdings surged after SK hynix announced a share buyback. The Nikkei rebounded for the first time in 3 days, as lower long-term interest rates and trends in U.S. stocks supported the market.
Among the news announced on 20 August, SK hynix was reported to be planning a share buyback, prompting a sharp rise in Kioxia Holdings. The Nikkei Stock Average rebounded for the first time in 3 days.
In the background, major U.S. stock indexes rebounded, while expectations that the U.S. Treasury would increase the scale of its buybacks of long-term government bonds pushed long-term interest rates lower and improved market sentiment, according to reports. The KOSPI also rose, and gains broadened across sectors.
Among the stocks in focus today, automakers stood out for their gains, with reports that Toyota Motor’s share price rose sharply. The article also covers stock movements in Nichirei and Sakura Internet, among others.