Asian shares are mixed following Wall Street losses as US Treasury’s moves fail to calm markets
Summary
Asian stock markets showed mixed results after losses on Wall Street. The U.S. Treasury tried to calm the markets by increasing government debt buybacks, but bond yields rose again, limiting the effect.Key Facts
- Asian shares moved unevenly: Japan’s Nikkei fell 0.2%, South Korea’s Kospi rose 0.9%, and Hong Kong’s Hang Seng climbed 0.7%.
- The U.S. Treasury doubled plans to buy longer-term government debt to help calm markets.
- Bond yields, which affect borrowing costs and stock prices, briefly fell but then rose again.
- The 10-year U.S. Treasury yield rose to about 4.71% from 4.64%, and the 30-year yield increased to 5.26%.
- Japan’s 10-year government bond yield rose to 2.88%, near a 30-year high.
- Wall Street indexes dropped: the S&P 500 by 0.9%, Dow Jones by 1.3%, and Nasdaq by 1%.
- Oil prices slightly decreased despite rising tensions between the U.S. and Iran.
- The U.S. dollar weakened slightly against the Japanese yen; the euro rose a little against the dollar.
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