US yields surge, impacting Asian markets, Japanese stocks benefit from weaker yen, Chinese stocks rise

From Investing.com: 2024-07-01 17:59:04

Asian markets struggled on Tuesday as U.S. Treasury yields surged, impacting regional equities and emerging assets. The 10-year U.S. yield hit 4.50%, while Japanese stocks benefited from the yen’s decline, and Chinese stocks from strong manufacturing data. With minimal economic news, attention shifts to South Korea inflation and Hong Kong retail sales releases.

Chinese markets started the quarter positively on upbeat manufacturing data, despite slower growth in new home prices. Beijing aims to attract foreign capital and stabilize domestic interest rates. South Korea’s June inflation data is expected to remain steady, potentially prompting a rate cut by the Bank of Korea. Key developments to watch include data from South Korea, Hong Kong, and Japan.



Read more at Investing.com: US yields bite, China enjoys rare surprise By Reuters