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Asian stocks step back from record highs on rising bond yields, weak US data | Malay Mail

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SYDNEY, Feb 19 — Asian stocks pulled back from all-time peaks today as higher longer-dated bond yields and underwhelming US data dented investor confidence in a faster economic recovery from the Covid-19 pandemic, while gold hit a seven-month trough. MSCI’s broadest index of Asia Pacific shares...

Friday, 19 Feb 2021 10:44 AM MYT

Today, Australia’s benchmark S&P/ASX 200 index was down 0.8 per cent while Japan’s Nikkei fell 0.4 per cent.“The recent move up in longer dated core yields appears to be weighing on equity investors’ mind,” said Rodrigo Catril, forex strategist at National Australia Bank. Rising bond yields hurt the appeal of gold, with spot prices hitting a seven-month low of US$1,766 an ounce today.

 

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