Asia stocks mixed as investors grapple with higher rates

By Julie Zhu HONG KONG - Asia stocks traded mixed on Wednesday and benchmark U.S. Treasury yields were near multi-year highs, as investors sour on both stocks and bonds amid worries aboutBy Julie Zhu

Profits at China's industrial firms fell 11.7% in the first eight months from a year earlier, official data showed on Wednesday. In Australia, inflation picked up in August, driven by a surge in fuel prices, but the gain was in line with expectations.Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%. The index is down 3.7% so far this month. U.S. stock futures, the S&P 500 e-minis, were up 0.13%.

The Dow Jones Industrial Average fell 1.14%, the S&P 500 lost 1.47% and the Nasdaq Composite dropped 1.57%. The 150 yen per dollar level is seen by financial markets as a red line that would spur Japanese authorities to act, as they did last year.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia stocks mixed as investors grapple with higher ratesAsia stocks traded mixed on Wednesday and benchmark U.S. Treasury yields were near multi-year highs, as investors sour on both stocks and bonds amid worries about the impact of higher-for-longer interest rates. The dollar index further rose after hitting a 10-month high on Tuesday, while the Japanese yen came closer to a key level where Japanese officials are seen as potentially intervening to shore up the currency. Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Foreign Investors Fuel Philippine Stocks Selloff That's Worst in Southeast AsiaOverseas investors continue to shun Philippine equities, unloading more than $370 million in a 24-day selling streak that helped sink the Philippine Stock Exchange Index to a 3.5% slump, the worst in Southeast Asia. Withdrawals in the five-week period through Friday pushed this year’s outflow to more than $552 million.
Source: BNNBloomberg - 🏆 83. / 50 Read more »