Global Markets-Wall Street and oil prices tread water as investors eye SK Hynix, Middle East tensions
SPY•SK Hynix surges in U.S. market debut
South Korean chipmaker SK Hynix hit U.S. markets Friday with a boom, as its U.S.-listed shares jumped 14% in their Nasdaq debut, after the firm raised about $26.5 billion, indicating strong investor appetite to gain exposure to the AI supply chain.
The blockbuster offering, which will finance new factories and equipment to meet surging AI chip demand, is set to be the world's second-biggest share sale after SpaceX's record-breaking IPO last month.
Yen firms, dollar muted and Treasury yields rise
In currency markets, attention remained on the Japanese yen, which firmed sharply after Katayama's comments suggesting repatriation could be in store for Japanese investors.
It was last 0.5% stronger at 161.56 per U.S. dollar. The frail yen has been hanging around its lowest level in 40 years in recent days as traders kept a watch for official intervention from Tokyo.
