July 31, 2026 8:20 AM
Asia stocks surge, yen steals spotlight after suspected intervention
Asian markets rallied hard with Wall Street on Friday as South Korea's battered market made a record comeback, stirring hopes that the recent selloff in AI-linked assets may be near an end. The yen was also firmly in the spotlight, holding some distance away from a 40-year trough after suspected coordinated intervention from various authorities, which came ahead of the Bank of Japan's (BOJ) rate decision later in the day. Long-end U.S. Treasury yields held near 19-year highs while short-end yi...