A man wearing a protective mask walks past an electronic board displaying Japan’s Nikkei index outside a brokerage in Tokyo, Japan, on September 21 2021. Picture: REUTERS/KIM KYUNG-HOON
The mood was softest in Hong Kong where concern over the earnings outlook weighed on tech stocks and an almost 5% drop in heavyweight Alibaba dragged the Hang Seng about 1% lower. The yen, a safe-haven asset that has also lately been sensitive to oil prices, had its sharpest one-day jump against the dollar in three months on Wednesday while gold rose almost 1% and treasuries rallied along the curve.Benchmark 10-year treasury yields were steady in Tokyo at 1.5889% after falling about 5.5 basis points overnight.
By contrast, Europe is grappling with a fourth wave of Covid-19 cases and fresh restrictions to curb it, while the central bank is pushing back on pressure to raise rates.
Source: Financial Digest (financialdigest.net)
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