Published • loading... • Updated
Asian Stocks Wilt as Brent Holds Above $100, Yields Near 2023 Peak
MSCI’s Asia-Pacific index outside Japan fell 1.0% as oil stayed above $100 a barrel and benchmark US Treasury yields held near 2023 highs.
- On Thursday, Asian stocks fell as Brent crude oil held above $100 per barrel, driven by escalating Middle East conflict and inflation concerns that threaten higher global interest rates.
- Investors remain cautious ahead of US inflation data due Friday, which will determine whether the Federal Reserve raises rates at its September 15 to 16 meeting next week.
- Benchmark 10-year US Treasury yields held steady at 4.8406% after the Treasury Department announced a $6 billion bond buyback that disappointed investors expecting a larger increase.
- The Japanese yen firmed 4.0% in September as traders anticipate faster Bank of Japan rate hikes, with board member Kazuyuki Masu stating the central bank will keep price trends below 2%.
- Nick Twidale, chief market strategist at ATFX Global, said "Brent pushing through the $100 level will be seen by many in the market as a significant event," signaling potential for sustained market volatility.
Insights by Ground AI
14 Articles
14 Articles
Asian stocks wilt as Brent holds above $100, yields near 2023 peak
By Ankur Banerjee SINGAPORE, Sept 10 (Reuters) - Asian stocks slid on Thursday as the biggest wave of attacks on shipping in the widening war in the Middle East kept oil prices above $100 a barrel, leaving investors nervous ahead of U.S. inflation data...
On the currency markets, on the other hand, the value of the American currency against the basket of currencies does not register major changes.
Coverage Details
Total News Sources14
Leaning Left0Leaning Right4Center2Last UpdatedBias Distribution67% Right
Bias Distribution
- 67% of the sources lean Right
67% Right
C 33%
R 67%
Factuality
To view factuality data please Upgrade to Premium
