Asian Stocks to Be Pressured, Chipmakers in Focus: Markets Wrap

-- Asian stocks are set to be under pressure from the open after US shares extended their losing streak to the longest since January.Equity futures contracts in Japan, Hong Kong and South Korea all indicate early losses, while those in Australia and China gained. US futures were little changed after the cash market fell for a fourth day Wednesday with the S&P 500 extending declines from last week’s record high to more than 4%.Asian chipmakers such as Taiwan Semiconductor Manufacturing Co.

Just a day after Jerome Powell threw cold water on rate-cut bets, dip buyers emerged in the Treasury market, with two-year yields dropping further below 5% and a $13 billion sale of 20-year bonds drawing solid demand. Australian 10-year bond yields fell in early trading, following Treasuries.

Fundamentals and technical trends for equity markets still appear supportive, suggesting the recent pullback should prove temporary, according to HSBC strategists led by Max Kettner. The federal government and a consumer rights advocate squared off in court Wednesday over whether regulators misled passengers by encouraging travel credit rather than refunds at the onset of the pandemic. In the early months of COVID-19's spread, airlines cancelled hundreds of thousands of flights and offered company vouchers to customers instead of refunds.

Capable of breaching even the most highly protected airspace, the U.S. Air Force's new B-21 bomber is arguably the most advanced warplane on earth. But by the time the last of its initial order of 100 comes off the production line in the 2030s, the Pentagon believes it may already be outdated. Speaking to the Senate Armed Services Committee on Tuesday, U.S.

Trump says $175 million bond is financially secure, asks judge to reject New York attorney general’s challenge

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