---
title: "Asian equities decline in the wake of a worldwide bond market turmoil"
publisher: "Share Talk"
author: "sharetalk"
published: "2023-10-04T06:45:35+00:00"
modified: "2023-10-04T06:45:35+00:00"
date: 2023-10-04
canonical: "https://www.share-talk.com/asian-equities-decline-in-the-wake-of-a-worldwide-bond-market-turmoil/"
category: "B2B"
categories: ["B2B", "Business & Support Services", "Technology", "Technology, Media & Telecoms"]
tags: ["Asian equities", "bond market", "Hong kong", "Interest rates", "Jakarta", "Singapore", "Sydney", "Taipei", "Turmoil", "Wellington"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/10/Asian-equities.jpg?fit=1200%2C800&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Asian equities decline in the wake of a worldwide bond market turmoil

**Published:** October 4, 2023
**Author:** sharetalk
**Categories:** B2B, Business & Support Services, Technology, Technology, Media & Telecoms
**Tags:** Asian equities, bond market, Hong kong, Interest rates, Jakarta, Singapore, Sydney, Taipei, Turmoil, Wellington
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/10/Asian-equities.jpg?fit=1200%2C800&quality=89&ssl=1)

---

Asian markets witnessed widespread declines due to a massive disturbance in the global bond market, prompted by concerns that interest rates may remain elevated for an extended period.

Tokyo and Seoul spearheaded the downturn, both plummeting about 2%. Meanwhile, cities like Hong Kong, Taipei, Jakarta, Singapore, Sydney, and Wellington also experienced marked drops amidst the prevailing negative sentiment.

This downtrend occurs in parallel with a notable decline in the US Treasury market, a cornerstone of the global financial framework, leading to a spike in government borrowing costs.

In the Asian trading session, US Treasuries continued their downward trajectory, pushing yields of the 10-year and 30-year notes nearer to 5%, a peak not seen in 16 years.

Bond yields in Germany reached their zenith since the 2011 eurozone debt upheaval. Even in Japan, with its official rates still under 0%, bond yields have risen to figures last observed in 2013.

Tokyo equities concluded with a significant drop, mirroring the declines on Wall Street due to surging US Treasury yields, intensifying worries that interest rates might persist at elevated levels for a more extended period.

The primary Nikkei 225 index plunged by 2.3%, shedding 711.06 points, settling at 30,526.88, its lowest since May.

Meanwhile, the more comprehensive Topix index decreased by 2.5%, losing 56.58 points, to land at 2,218.89.

The Hang Seng index in Hong Kong dropped 1% to 17,151.61. China Evergrande, a distressed property developer, saw its value decrease by 8.5%, following a 28% fall on Tuesday.

Australia’s S&P/ASX 200 index declined by 1% to 6,873.90. Meanwhile, in Bangkok, the SET index dipped by 0.2%.

On Tuesday, Wall Street encountered losses with US bond yields spiking to their highest in 16 years, fueling renewed worries that the Federal Reserve might sustain elevated interest rates for a prolonged period.

The downturn was further influenced by a report indicating higher-than-anticipated job openings in the US. The rising bond yields in the bond market are pressuring stocks due to expectations of sustained high-interest rates.

The Dow Jones Industrial Average dropped by 430 points or 1.3%, concluding at 33,002.38, marking its most significant daily decline since March. The wider S&P 500 index fell 1.4% to 4,229.45, and the tech-centric Nasdaq Composite index declined 1.9% to 13,059.47.

---

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