Stocks and currencies in Asia slumped on Thursday, as US Treasury yields near this year’s high kept risk sentiment in check.
Japan and South Korea bore the brunt of the losses in the region, driving the MSCI Asia Pacific Index to a three-week low. Futures contracts for US stocks also slipped in Asian trading. A measure of Chinese tech shares in Hong Kong inched closer to a technical correction. Treasuries steadied in Asian trading after falling across the curve in the previous session following tepid demand in the $44 billion sale of seven-year securities. The result heightened worries that funding the US deficit will drive up yields at a time when the Federal Reserve is in no rush to cut rates. Australian yields climbed. Rising Treasury yields have driven the dollar higher, in turn hitting Asian currencies. A gauge of dollar strength gained for the third session. Global equities are on pace for their worst week since mid-April. In Japan, the yen advanced after weakening as much as 0.3% to beyond 157.52 per dollar on Wednesday, falling through a level that had prompted the latest round of suspected action. The nation’s 10-year bonds reversed an earlier loss. Elsewhere, China’s onshore yuan was little changed after falling to the lowest level since November on Wednesday. South Africa’s rand weakened 0.4% against the dollar as the country went to polls to elect its next parliament and government. In New Zealand, the newgovernment delivered on its election promise to cut taxes in its first budget even as the Treasury forecast bigger deficits and a delayed return to surplus. In the corporate world, BHP Group decided against making a firm offer for Anglo American Plc. Google committed to making $2 billion in investments in Malaysia. Chinese authorities are poised to impose a record fine on PricewaterhouseCoopers LLP over its auditing work for China Evergrande Group, according to people familiar with the matter.
In commodities, oil was steady after falling on Wednesday as traders look to US stockpile data and an OPEC+ meeting on the weekend. US After Hours PATH -30%, CRM -16.4%, A -13.2%, NTNX -9.9%, AEO -7.3% lower on earnings; PSTG +6.3%, AI +5.7%, OKTA +3%, HPQ +2.6% higher on earnings; SRPT +4.9% to join S&P MidCap 400.
Nikkei -1.58% Hang Seng -1.34% CSI -0.52% Shanghai -0.56% Shenzen -0.31%
Eur$ 1.0791 CNH 7.2683 CNY 7.2495 JPY 157.10 GBP 1.2689 CHF 0.9127 RUB 89.5597 TRY 32.2677 WTI$ 79.11 Gold 2327.35 -0.46% BTC 68,040 +0.92% ETH 3,777 +0.74%
S&P -0.62% Nasdaq -0.73% EuroStoxx -0.36% FTSE -0.51% Dax -0.46% SMI -0.23%
Macro :
- EU Commission to Delay Chinese EV Tariff Decision: Reuters
- Liechtenstein Royals-Backed Lightrock Forays Into Public Stocks
- US Banks Have a Commercial Property Blind Spot Risk, Study Warns
Keep an eye on :
Keep an eye on :
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