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HYBE and JYP Entertainment Shares Rise on J-Hope News, Boy Band Launch Announcement
HYBE and JYP Entertainment stocks rose this week on news of a new J-Hope release and tour and the launch of a new boy band, respectively.
JYP Entertainment, which has had global success with Stray Kids and ITZY, rose 5.6% to 71,600 won ($48.57) after the company announced it will launch a new boy band, Kickflip, on Jan. 20. Stocks fell sharply on Friday (Jan. 10) following healthy employment numbers that investors likely interpreted to mean the U.S. Federal Reserve would not seek to lower interest rates at its meetings in January or March. Also, data from the University of Michigan released Friday showed consumers’ expectations for future inflation rose to 3.3% from 2.8%.
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