Stocks slide, US yields climb amid hawkish Fed, China tensions
Timilehin Adejumobi
1 min read
Asia-Pacific stock markets fell on Thursday, extending a decline in global equities, after the U.S. Federal Reserve confirmed its hawkish stance, while an escalating trade battle between China and the United States also dampened sentiment.
U.S. 10-year Treasury yields climbed to a fresh four-month high in Tokyo trading, and the dollar extended its rise against major peers.
Japan’s Nikkei share average (.N225) slumped more than 1%, continuing its retreat from 33-year highs.
Hong Kong’s Hang Seng (.HSI) fell 0.9%, while mainland blue chips (.CSI300) edged 0.2% lower.
Australia’s stock benchmark (.AXJO) slid 1% and Taiwan shares (.TWII) retreated 0.7%.
MSCI’s broadest index of Asia-Pacific shares (.MIAP00000PUS) dropped 0.7%, after a 0.4% slide for the world index (.MIWO00000PUS) on Wednesday.
U.S. E-mini stock futures pointed to a 0.1% lower restart for the S&P 500 (.SPX), following its overnight 0.2% decline.
This report’s information was first seen on REUTERS; to read more, click this link.
