Asian stocks inch away from 10-month low, rate jitters linger

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in TokyoSINGAPORE - Asian shares eased away from their lowest levels in 10 months but were on course to clock their worst quarterly performance in a year as worries over elevated interest rates dragged on sentiment, while the dollar held strong.

Japan's Nikkei was 0.10% lower, while Australia's S&P/ASX 200 index rose 0.21%. Hong Kong's Hang Seng Index was up 0.64%. The Chinese markets were closed for a holiday and are on a break next week. "During the most recent Fed press conference, Powell mentioned that while the Fed doesn’t target levels of real GDP, it evaluates whether it poses a risk to achieving the 2% inflation target," said Ryan Brandham, head of global capital markets, North America at Validus Risk Management.

The recent rise in Treasury yields to 16-year highs has cast a shadow over the stock market, with the Federal Reserve's hawkish tilt last week also weighing on risk sentiment. [US/]In Asian hours, the yield on 10-year Treasury notes was down 0.8 basis points to 4.589%, easing away from the fresh 16 year peak of 4.688% it touched on Thursday.

Singapore Singapore Latest News, Singapore Singapore 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 »

Asian Stocks Poised for Worst Quarter in a Year: Markets Wrap(Bloomberg) -- Stocks in Asia looked set to post the biggest quarterly decline in a year, while oil’s rally faltered and Treasury yields ticked higher.Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally Biden Impeachment Hearing Heavy on Politics, Light on SubstanceUAW Aims For At Least 30% Wage Bump to Woo New Members‘Fortnite’ Maker Epic Games Is Cutting About 16% of StaffElon Musk Wins US Space Force Contract for StarshieldA gauge of Asian equities was little
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asia Stocks Set to Follow End-of-Month US Uptick: Markets WrapStocks in Asia were poised to follow a rebound in the US as the month and quarter draw to a close, while oil’s rally faltered and Treasury yields fell.
Source: BNNBloomberg - 🏆 83. / 50 Read more »