Commercial and residential buildings are brightly lit at dawn on Saturday, October 21, 2023, in Seoul, South Korea. Corporate investment.
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Asia-Pacific markets extended losses on Thursday, tracking Wall Street ahead of a slew of economic data from the region on Friday.
Japan’s Nikkei 225 Index Shares fell more than 2%, while the Topix fell 1.4% in early trading.
Korean Cospi It fell nearly 1%, with the smaller-cap Kosdaq index down 0.6%.
Japan and South Korea will release industrial production data on Friday, while China will release its official purchasing managers’ index for May. Inflation data from the Japanese capital Tokyo will also be released.
Australian S&P/ASX 200 Index Continuing the previous day’s decline, it fell 0.7%.
Hong Kong’s Hang Seng Index futures were quoted at 18,409 points, opening weaker than the Hang Seng Index’s closing point of 18,477.01 points.
Overnight, all three major U.S. stock indexes fell as Treasury yields rose. this 10 Year Treasury Bill Yields moved higher for a second day in a row, last trading above 4.6%.
Higher yields reduce the multiples investors are willing to pay for stocks, push up borrowing costs, hurt consumer spending and make Treasury bills and money market funds more attractive.
this Dow Jones Industrial Average fell 1.06%, while S&P 500 Index It fell 0.74%, its first decline in the past three trading days. this Nasdaq Index The tech index fell 0.58% as gains in Nvidia mitigated losses.
—CNBC’s Alex Harring and Pia Singh contributed to this report.
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