Blue-chip stocks soared here yesterday, with the Dow Jones Industrial Average gaining 227.40, or 3 per cent, to 7,669.48 at the closing bell. On the bond market, the average yield on bellwether 30-year Treasury bonds was at 6.21 per cent, compared to 6.13 per cent Friday.

The Dow's 227-point rise yesterday was the third-largest ever in terms of points. Analysts attribute the upsurge in New York to the stock market results in Europe and Hong Kong, where the Hang Seng index made a significant recovery.

In the broader market, advancing issues beat declines 3-1 on heavy volume of 566 million shares on the New York Stock Exchange. The Nasdaq composite index jumped 36.54 points, or 2.2 percent, to 1,630.15.