Asian shares drop as Treasury yields hit fresh highs | Malay Mail

Asian shares drop as Treasury yields hit fresh highs | Malay Mail

Asia Economy, Asian Stocks Down

19/1/2022 10:01:00 AM

Asian shares drop as Treasury yields hit fresh highs | Malay Mail

TOKYO, Jan 19 ― Asia's share markets struggled today as US Treasury yields hit fresh two-year highs and a global technology stock sell-off unsettled investors worrying about inflation and bracing for tighter US monetary policy. Oil prices hit their highest since 2014 amid an outage on a pipeline...

channel for the latest updates.TOKYO, Jan 19 ― Asia's share markets struggled today as US Treasury yields hit fresh two-year highs and a global technology stock sell-off unsettled investors worrying about inflation and bracing for tighter US monetary policy.

Oil prices hit their highest since 2014 amid an outage on a pipeline from Iraq to Turkey and global political tensions, stoking fears of inflation becoming more persistent and propping up the dollar, which hovered near one-week highs.MSCI's broadest index of Asia-Pacific shares outside Japan reflected the sombre tone, trading down 0.1 per cent in mid-morning trade after closing lower for four days straight.

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Asian currencies and stocks fall, investors brace for hawkish FedBENGALURU (Jan 19): Asia's emerging stock and currency markets largely fell on Wednesday as US Treasury yields perched at two-year highs amid prospects of higher US interest rates. Currencies in the region were flat to lower with Indonesia's rupiah, an attractive carry-trade for investors, down a fifth of a percent, while the Thai baht fell 0.3%. The US dollar also firmed overnight as two-year Treasury yields stayed above 1% and benchmark 10-year yields stood at a two-year high of 1.8860%.Investors are

Asia shares fall as Treasury yields hit fresh highsTOKYO (Jan 19): Asia's share markets fell on Wednesday as US Treasury yields hit fresh two-year highs and a global technology stock sell-off unsettled investors worrying about inflation and bracing for tighter US monetary policy.Oil prices hit their highest since 2014 amid an outage on a pipeline from Iraq to Turkey and global political tensions, stoking fears of inflation becoming more persistent and propping up the US dollar, which hovered near one-week highs.MSCI's broadest index of Asia-Pacific shares outside

Global stocks sink, notably tech, as Treasury yields jump | Malay MailNEW YORK, Jan 19 ― Benchmark US Treasury yields jumped to two-year highs and equity markets tumbled yesterday, with the Nasdaq falling more than 2 per cent, as traders braced for the Federal Reserve to tackle fast-rising inflation by tightening monetary policy. The dollar hit a six-day high as...

Goldman profit hit by weaker trading, rising expenses; shares tumble | Malay MailNEW YORK, Jan 19 ― Shares in Goldman Sachs Group fell as much as 8 per cent yesterday after Wall Street's premier investment bank missed quarterly profit expectations, hampered by weaker trading revenues and rising expenses. The share decline put Goldman on course for its worst single-day showing...

FTSE 100 hits two-year high as GSK boosts | Malay MailLONDON, Jan 18 ― London's FTSE ended higher yesterday, aided by healthcare stocks as GlaxoSmithKline jumped after rejecting a £50 billion (RM285.6 billion) buyout offer for its consumer arm from Unilever, while energy and mining stocks also provided support. The blue-chip FTSE 100 index gained...

Dollar fails to catch a lift from higher yields, Bank of Japan in focus | Malay MailNEW YORK, Jan 18 ― The Bank of Japan (BoJ) will probably slightly revise up its inflation forecast in a quarterly outlook report after the meeting, due to rising energy costs, Reuters reported last week citing sources, though the new projection will still be below the BoJ's 2 per cent target. The...

Telegram channel for the latest updates. TOKYO, Jan 19 ― Asia's share markets struggled today as US Treasury yields hit fresh two-year highs and a global technology stock sell-off unsettled investors worrying about inflation and bracing for tighter US monetary policy. Oil prices hit their highest since 2014 amid an outage on a pipeline from Iraq to Turkey and global political tensions, stoking fears of inflation becoming more persistent and propping up the dollar, which hovered near one-week highs. MSCI's broadest index of Asia-Pacific shares outside Japan reflected the sombre tone, trading down 0.1 per cent in mid-morning trade after closing lower for four days straight. Australia lost half a per cent, while Japan's Nikkei slid 1.8 per cent as technology stocks fell and worries over new curbs on businesses to halt a record surge in coronavirus cases curbed risk appetite. Shares in Sony Group slumped to their lowest level since late October, losing as much as a tenth of their value after gaming rival Microsoft said it will buy developer Activision Blizzard. Elsewhere, South Korea's Kospi lost 0.3 per cent, while China's blue-chip index was flat and Hong Kong's Hang Seng index bucked the downtrend to rise 0.1 per cent. “There's probably money rotating out of the United States as there's such a concentrated pool of capital in US equities, specifically in technology companies,” said Chris Weston, head of research at brokerage Pepperstone. “You may see some of that capital redistributed.” The prospect of higher US rates continued to play out in fixed income markets, with benchmark US Treasury yields at fresh two-year highs. Ten-year yields were up about 1 basis point at 1.8860 per cent after hitting as much as 1.8900 per cent, while five-year yields were at 1.6795 per cent, also holding near new two-year highs recorded early in the session. “It seems as if rates are following the typical historical pattern of increasing into the first Fed hike of the cycle,” Rodigo Catril, a senior FX strategist at National Australia Bank, said in a note. “Another surge in oil prices and ongoing repricing of Fed hike expectations are themes playing in the rates space with the US dollar broadly stronger, benefiting from the combination of higher US Treasury yields and spike in risk aversion,” he added. The dollar index, which tracks the greenback against a basket of currencies of other major trading partners, was up at 95.760. The Australian dollar was below its 50-day moving average at US$0.71905 (RM4.19), while sterling held steady at 1.3601. It will be in focus later on Wednesday when British inflation figures are due, with annual headline inflation expected to reach its highest in almost a decade of 5.2 per cent. Oil prices rose for a fourth day as an outage on a pipeline from Iraq to Turkey added to worries about an already tight supply outlook amid geopolitical troubles involving Russia and the United Arab Emirates. US crude jumped 1.49 per cent to US$86.70 a barrel. Brent crude rose 1.30 per cent to US$88.65 per barrel. Gold was slightly lower. Spot gold traded at US$1,812.81 per ounce. ― Reuters You May Also Like