SK Hynix ADRs surged about 13% on the first day, as Wall Street strengthened and U.S. Treasuries were mixed

10On the 3th trading day (U.S. Eastern Time), New York’s three major stock indexes closed higher. The Nasdaq, which is centered on technology stocks, rose for a third straight day.

SK Hynix’s American depositary receipts (ADRs), listed on the Nasdaq, ended their first day at a price about 13% above the offering price. It was seen as a successful debut amid intense investor interest.

A midday shock briefly appeared after U.S. President Donald Trump declared that the ceasefire with Iran had ended. However, it turned back to gains after it was confirmed that the United States and Iran would continue ceasefire talks.

The U.S. Treasury market came under overall downward pressure amid relative weakness in shorter-term securities. The yield curve was flattening, indicating bear flattening.

In the New York bond market, 10-year Treasury yield traded at 3p.m. 4.5680% and was up 2.90bp from the previous trading day.

Earlier the same day at 8a.m. 15minute, the 10-year yield stood at 4.532%, the 2-year yield at 4.162%. The 30-year note was at 5.052%.

Remarks by Japan's finance minister raised the possibility that Japanese pension funds may increase domestic investment, fueling concerns about reduced buying of U.S. Treasurys. In the Middle East, news that Qatar had stepped in as a mediator also affected bond market sentiment.

The Dow Jones 30Industrial Average finished the session at 149.60points higher than the previous close, ending at 52,637.01.