Most Asian indexes gain ground on US yield drop, but Chinese stocks fall | Malay Mail

HONG KONG, April 21 ― Mainland China and Hong Kong stocks fell today, hurt by worries about the Chinese economy, but an overnight tumble in longer dated US treasury yields lent support to other benchmark indexes.

The 10-year yield was last at 2.8455 per cent, a whisker higher in Asia morning trade, but still bruised after falling overnight from as high as 2.981 per cent in early trade yesterday. He added that “equity futures look positive, with Asian markets also showing some signs of positive risk appetite for the near term.”

China's central bank, however, set the midpoint rate for the yuan at its the weakest since November yesterday, ahead of the lending rate announcement. It also set it lower still today. The yen has been hurt by the Bank of Japan keeping yields pinned down low while rates rise in the United States.

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