Asian stocks slip as markets watch for US data

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Asia-Pacific shares down as US dollar holds firm

A man wearing a protective face mask talks on his cellphone in front of a screen showing the Nikkei index outside a brokerage in Tokyo, Japan. Picture: REUTERS/ATHIT PERAWONGMETHA

Higher US bond yields were supporting the dollar, with the US currency’s index measure against six peers moving back over 100 to test last week’s near two-year high. “US stocks fell on Monday as investors grew increasingly concerned a three-year high in the benchmark US 10-year treasury yield would start to slow the economy, and looked ahead to the upcoming earnings season for signs of what impact inflation is having on corporate profits,” Ord Minnett research analysts wrote to clients on Tuesday.

Hong Kong’s Hang Seng index gained 0.6% in early trade on Tuesday, while China’s blue-chip CSI300 index was up 0.4%.

 

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