Asian Stocks Up Over a Pullback in U.S. Bond Yields -Breaking
Investing.com – Asia Pacific stocks were up on Wednesday morning, and a pullback in bond yields eased some investors’ concerns about the recession caused by the higher rates.
Japan’s gained 1.00% by 10:28 PM ET (2:28 AM GMT). Market expectations were exceeded by government data that was released earlier today. It showed that the country’s economy shrank 0.5% year-on-year in January and March, which is less than the 1.0% preliminary reading. quarter-on-quarter.
Following a slide to a 20-year high, the yen continued its decline.
South Korea’s was up 0.45%.
The Australian rate rose by 0.81%. On Tuesday, the interest rate was increased to 0.85%. This is higher than forecasts by Investing.com of 0.60.
Hong Kong’s Index jumped 1.98%
China’s was up 0.52% while the was up 0.57%.
The gained, wiped out last week’s losses with back-to-back advances and the tech-heavy also climbed.
Over expectations of an end to a decade-old government crackdown against the technology sector, shares in China that are listed on U.S. stock exchanges rose for the second day.
U.S. Treasury yields edged upward Target Corp’s most recent profit forecast for the United States showed a grim outlook on consumer spending. This has pushed 10-year yields to below 3%.
Investors are worried that more interest rate hikes could slow the economy, they are now looking to Friday’s for more clues on the interest rate hike path.
“Figuring out the direction over the next couple of months becomes increasingly difficult,” BlackRock Inc (NYSE:). Bloomberg was informed by Kate Moore, head of global allocation strategy and thematic strategy.
“There seems to be across all of the investing segments a lack of strong conviction in the direction of the market. We are going to see a lot more investors remain on the sidelines, remain cautiously positioned.”
It will issue its policy decision on Thursday and announce an end of bond purchases for the week.
A January prediction of 4.1% was made due to rising commodity prices, disruptions in supply and central bank moves to increase interest rates.