Singapore — Wednesday morning trading saw the Asia-Pacific stocks fall after an overnight fall on Wall Street, and the Nasdaq Composite plunged nearly 3% as bond yields rose.
NS S & P / ASX 200 In Australia it decreased by 1.39%.
MSCI’s widest non-Japanese Asia Pacific stock index fell 1.3%.
Investors 10-year Treasury yield, Over 1.5% on Monday, continued to rise, and finally was 1.553%. Yield is inversely proportional to price.
The Nasdaq Composite fell 2.83% to 14,546.68 on the worst day since March, with rising yields hitting tech stocks overnight on Wall Street. High-tech stocks have been hit in a rising yield environment as rising interest rates devalue future cash flow and appear to overvalue popular stocks.
Asian tech stocks fell in Wednesday morning trading, Japanese conglomerate stocks Softbank Group South Korea’s Samsung Electronics fell 2.62%, down 2.33%.
On Wall Street, the S & P 500 fell 2.04% overnight to 4,352.63, and the Dow Jones Industrial Average fell 569.38 points to 34,299.99.
NS USD indexTracking greenbacks against baskets from other companies in the same industry was 93.749, following a recent rise from less than 93.6.
Japan’s Nikkei 225 fell more than 2% after Wall Street stock price fell
Source link Japan’s Nikkei 225 fell more than 2% after Wall Street stock price fell