Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Asian Stocks Down Amid U.S. Treasury Yields Rise

Stock Markets Jun 06, 2022 22:44
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
AXJO
-1.87%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
JP225
-0.58%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
HK50
-1.18%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
CL
-4.86%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
KS11
-1.81%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SSEC
-0.66%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Zhang Mengying

Investing.com – Asia Pacific stocks were mostly down on Tuesday morning amid U.S. treasury yields rise.

Japan’s Nikkei 225 gained 0.42% by 10:33 PM ET (2:33 AM GMT).

The yen plunged to a 20-year low on a widening interest-rate gap. The yen’s sharp decline and surging commodity also dented consumers’ confidence. Government data released on Monday showed that household spending decreased 1.7% in April year on year. Governor of the Bank of Japan Haruhiko Kuroda reiterated on Monday an unwavering commitment to “powerful” monetary stimulus.

South Korea’s KOSPI fell 1.39%.

In Australia, the ASX 200 was down 0.79%. The Reserve Bank of Australia will hand down its policy decision later in the day, which is widely expected to deliver back-to-back interest rate hikes for the first time in 12 years.

Hong Kong’s Hang Seng Index was down 0.40.

China’s Shanghai Composite inched down 0.08% while the Shenzhen Component inched down 0.09%. China is easing COVID-19 curbs and has announced 33 measures covering fiscal, financial, investment, and industrial policies to help stabilize the economy.

The 10 Year Treasury yield rose 9.9 basis points (bps) overnight and hit 3.0580% early in the Asia session.

A strong U.S. jobs report released last Friday raised bets that the U.S. Federal Reserve will remain assertive on inflation. Investors now await the U.S. consumer price index (CPI) for clues on the interest rate hike path.

"Inflation concerns are not going anywhere fast,” City Index senior financial markets analyst Fiona Cincotta said in a note.

"Rising crude oil prices and a strong labor report have lifted bets that the Fed may need to act aggressively to rein in inflation."

The European Central Bank (ECB) will announce an end to bond purchases this week, and formally begin the countdown to an increase in borrowing costs in July. The ECB will hand down its policy decision this Thursday.

On the data front, China’s CPI and producer price index (PPI) are due on Friday.

Asian Stocks Down Amid U.S. Treasury Yields Rise
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email