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Market Update: South Korean Shares Extend All-Time Highs at Open
The KOSPI gained 14.04 points or 0.43% to 3272.67 in early trade Wednesday, extending fresh record highs for the 3rd consecutive session of gains with investors proving optimistic on the pace of global recovery as long term bond yields fell and inflation fears eased. Local 10-year bond yields were at 2.09% while US 10-year rates held at 1.497% amid the two-day Federal Open Market Committee meeting that runs through Wednesday, with market participants expecting Federal Reserve officials to reiterate support for accommodative policies. On the coronavirus front, the KDCA reported 545 more virus cases as health authorities are set to implement a revamped social distancing scheme next month after extending the current distancing rules until July 4. [/s2If]
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