Stock Groups

Japan stocks set for decline as investors watch U.S. Treasury yields

[ad_1]

SINGAPORE — Shares in Japan looked set for a lower start on Wednesday as investors monitor moves in U.S. Treasury yields.

Chicago’s Nikkei futures contract was 29,700, while Osaka’s counterpart was 29,680. Compare that to the Nikkei 225’sLast close was at 29.774.11. Japan closed its markets on Tuesday to observe a holiday.

Morning trade saw Australian stock prices fall as Australian shares were less S&P/ASX 200The decline was 0.2%

This is the benchmark 10-year U.S. TreasuryPresident Trump has seen yield rise since then. Joe BidenAnnouced his renomination of Jerome PowellAs Federal Reserve chair. Last week, it was at 1.666%.

Other central bank news: The Reserve Bank of New Zealand will publish its interest rate decision as well as monetary policy statement at 9.30 HK/SIN.

CNBC Pro: Find stock picks and trends in investing from CNBC Pro

Wall Street technology stocks are feeling the effects of rising Treasury yields. The Nasdaq Composite fell 0.5% overnight to 15,775.14. High-growth companies in tech sectors are usually viewed negatively by higher rates because their future earnings appear less appealing against rising yields.

Meanwhile, the Dow Jones Industrial Average gained 194.55 points to 35,813.80 while the S&P 500 climbed about 0.17% to 4,690.70.

Currencies

The U.S. dollar indexAfter its rise from 96.4 to 96.4 earlier in the week,, the greenback was now at 96.488.

The Japanese yenThe dollar was traded at 115.14 dollars, down from 114.5 earlier in the week. The Australian dollarIt was $0.7224. This is still below the $0.73 levels last week.

[ad_2]