Investors watch bond yields, Australia retail sales data

SINGAPORE — Shares in Japan were set to open lower Thursday following overnight declines on Wall Street as bond yields rose again.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 29,325 while its counterpart in Osaka was at 29,380. That compared against the Nikkei 225’s last close at 29,559.10.

Shares in Australia declined in morning trade as the S&P/ASX 200 fell about 0.8%.

Australia’s retail sales and trade data for January are expected to be out at around 8:30 a.m. HK/SIN.

Technology stock watch

Investors will keep an eye on tech shares in Asia after their counterparts stateside fell overnight amid a rise in bond yields.

The tech-heavy Nasdaq Composite dropped 2.7% to close at 12,997.75, with shares of Apple, Amazon, Microsoft and Alphabet all dropping more than 2% each.

Other major indexes on Wall Street also declined on Wednesday: The S&P 500 fell 1.31% to 3,819.72 while the Dow Jones Industrial Average declined 121.43 points to 31,270.09.

The moves came as the 10-year U.S. Treasury yield rose again, last sitting at 1.4842%. The benchmark rate surged to a high of 1.6% last week, in a move that some described as a “flash” spike — sparking concerns of stock valuations and a potential pickup in inflation.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.98 — lower than levels above 91 seen earlier this week.

The Japanese yen traded at 107.09 per dollar, still weaker than levels below 106.8 against the greenback seen earlier in the week. The Australian dollar changed hands at $0.7756, weaker than levels above $0.792 seen last week.

In oil developments, OPEC and its non-OPEC partners — an energy alliance sometimes referred to as OPEC+ — are expected to convene via videoconference on Thursday to discuss how to manage supply to the market.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

— CNBC’s Sam Meredith and Yun Li contributed to this report.

Source link




COVID Nightmare in L.A. As Emergency System Falters

Jan. 6, 2021 -- As cases of COVID-19 continue to surge in Los Angeles County,...

Pelosi, McConnell, Trump talk relief deal

Senate Majority Leader Mitch McConnell (R-KY) speaks at a campaign event in Florence, Kentucky, October 28, 2020.Bryan Woolston | ReutersThe top policymakers in...

Biden to make announcement about Saudi Arabia Monday

Saudi Crown Prince Mohammed bin Salman speaks during the Future Investment Initiative Forum in Riyadh, Saudi Arabia October 24, 2018.Bandar Algaloud | ReutersPresident...

Sebastien Loeb becomes the oldest driver to lead a WRC round

Sebastien Loeb became at 46 the oldest driver to lead a round of the world rally championship after ending Friday's opening leg of...

Brendan Hunt, arrested for threatening Biden inauguration, calling for Pelosi, Schumer, AOC deaths

An FBI agent enters the residence of Brendan Hunt in Queens, New York, January 19, 2021.Source: News4 New YorkA New York man was...