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Asian shares mostly rise after U.S. stocks wobble as Treasury bond yields veer

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  • October 25, 2023 at 1:47 am #14423

    Tom Moody
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    Asian shares mostly rise after U.S. stocks wobble as Treasury bond yields veer

    TOKYO
    Shares mostly rose Tuesday in Asia after Wall Street wobbled to a mixed close as yields on U.S. Treasury bonds fell back after creeping above 5%.

    Benchmarks rose in Tokyo, Sydney, Seoul, Shanghai and Taiwan, but fell in Hong Kong.

    Rapidly rising yields in the bond market that have been pressuring stock prices since the summer seemed set to climb further after the 10-year Treasury briefly topped 5.02% to touch its highest level since 2007.

    The S&P 500 quickly slumped 0.8%, but the 10-year yield eventually eased back to 4.84%, down from 4.91% late Friday, as oil prices tumbled to take some pressure off inflation and relax the vise on the stock market.

    Japan’s benchmark Nikkei 225 added 0.2% in afternoon trading to 31,062.35. Sydney’s S&P/ASX 200 rose 0.2% to 6,856.90. South Korea’s Kospi jumped 1.1% to 2,383.51.

    https://japantoday.com/category/business/stock-market-today-asian-shares-mostly-rise-after-us-stocks-wobble-as-treasury-bond-yields-veer

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