GLOBAL MARKETS-Asian Stocks Extend Losing Streak as Higher Yields Bite, Nvidia Results in Focus
Rising government-bond yields and a stronger dollar weighed on regional equities as investors awaited Nvidia’s results, with sales estimated to have jumped 80%.
- On Wednesday, Asian stock markets extended a losing streak as renewed inflation concerns and escalating geopolitical tensions pushed global bond yields higher, with the MSCI Asia Pacific Index falling 1% and Japan's Topix sliding 1.7%.
- Global bond markets faced a broad sell-off as traders increased bets that the Federal Reserve may need to raise interest rates further this year, driving U.S. 10-year Treasury yields to a 16-month high of 4.687%.
- With Nvidia's first-quarter earnings due after Wednesday's close, IG analyst Tony Sycamore said, "The U.S. yields obviously are creating some rumbles in the market and now attracting a lot of attention."
- Escalating tensions in the Middle East have effectively closed the Strait of Hormuz, prompting President Donald Trump to threaten renewed strikes on Iran as Group-of-Seven finance chiefs pledged to manage fiscal risks.
- Samsung Electronics shares dropped 1.4% after its union announced an 18-day strike from Thursday, while the Bloomberg Dollar Spot Index held near a six-week high, pressuring major global currencies.
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GLOBAL MARKETS-Asian stocks extend losing streak as higher yields bite, Nvidia results in focus
Treasuries nursed losses in Asia, with the yield on benchmark U.S. 10-year notes holding steady at 4.6613%, having jumped 21 basis points in the past three sessions. The 30-year yield was flat at 5.1795% after a 17 basis point jump from last Thursday.
Investors expect the chip giant's quarterly figures with high voltage. The tension pushed the most important indices in Asia into the loss zone.
The EuroStoxx50 expands its plus in the wake of the friendly New York stock exchanges and excludes 2.13 percent higher with 5,976.07 points.
Nvidia/Image: Valora Analitik. Asia-Pacific Stock Exchanges Asian stock markets recorded widespread declines on Wednesday, with technological stocks following Wall Street night losses, while investors were cautious before the publication of the quarterly results of the Nvidia chip giant, scheduled for later in the day. Japan's Nikkei 225 fell by 1.5%, while the Topix index in general fell by 1.7 %. South Korea's Kospi plummeted by more than 2.5%.
Overseas Overnight Trading Volatile as Bond Yields and Oil Prices Pressure Global Markets
Overseas overnight trading turned volatile as rising Treasury yields and elevated oil prices pressured investor sentiment worldwide. Asian markets declined while European equities stabilized modestly ahead of major technology earnings and inflation-related developments. Investors remain focused on Federal Reserve policy expectations, energy market volatility, and geopolitical tensions affecting global financial markets. Overseas Overnight Tradin…
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