Asian markets mostly moved higher after U.S. equities eased from last week’s gains under the weight of rising global bond yields.
Tokyo’s Nikkei 225 advanced 0.5pc to 49,534.36, driven by financial stocks after the Bank of Japan’s governor signalled that an interest rate hike could come as soon as this month. Japan’s 10-year government bond yield climbed to a 17-year high at 1.88pc, while the 30-year yield hit a record level.
In Hong Kong, the Hang Seng rose 0.7pc to 26,209.07, while the Shanghai Composite slipped 0.3pc to 3,902.78. Australia’s S&P/ASX 200 inched up 0.2pc to 8,582.80.
South Korea’s Kospi jumped 1.5pc to 3,977.85, lifted by strong demand for major tech names. Samsung gained 2.8pc, and chipmaker SK Hynix climbed 3.4pc. Taiwan’s Taiex added 1pc, while India’s Sensex dipped 0.1pc.
In the U.S., the Dow Jones Industrial Average ended down 0.9pc, the S&P 500 fell 0.5pc, and the Nasdaq Composite slipped 0.4pc.
U.S. Treasury yields also pushed higher, with the 10-year rising seven basis points to 4.09pc and the two-year up four basis points to 3.5pc.
