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Asia markets largely set to rise as 10-year U.S. Treasury yield hits 16-year high

BusinessAsia markets largely set to rise as 10-year U.S. Treasury yield hits 16-year high


The ICC International Commerce Centre, and Hong Kong’s brand new museum of visual culture, Victoria harbor, Hong Kong, China.

Ucg | Universal Images Group | Getty Images

Asia-Pacific markets are largely set to rise even as yields of U.S. 10-year Treasury bonds hit levels not seen in over a decade.

The benchmark 10-year Treasury note yield hit a high of 4.34%, reaching its highest level since November 2007. 

Japan’s Nikkei 225 is set for a positive open, with the futures contract in Chicago at 31,805 and its counterpart in Osaka at 31,820 against the index’s last close of 31,565.64. Overnight, SoftBank Group’s chip unit Arm filed for a Nasdaq listing that is expected to be the largest of the year.

Futures for Hong Kong’s Hang Seng index point to a rebound for the index and stood at 17,680,compared with the HSI’s close of 17,623.29.

However, futures for the Australian S&P/ASX 200 point to a lower open, at 7,079 compared to the last close of 7,115.5.

On Monday in the U.S., all three major indexes ended mixed, with the tech-heavy Nasdaq Composite snapping a four day losing streak and gaining 1.6%, while the S&P 500 gained 0.69% and the Dow Jones Industrial Average fell 0.11%.

— CNBC’s Sarah Min and Pia Singh contributed to this report.


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