Stocks slide, US yields climb

Tokyo, July 6 (BNA): Stock markets in the Asia-Pacific region slumped on Thursday, extending a decline in global stocks.

Reuters reported that US 10-year Treasury yields jumped to a four-month high in Tokyo trading, and the dollar continued its rise against major currencies.

The exception was the yen that strengthened against its US rival as traders worried about potential currency intervention.

Japan’s Nikkei average fell 1.6%, extending its decline from 33-year highs.

Hong Kong’s Hang Seng Index plunged more than 3%, while mainland blue chips lost 0.7%.

The Australian shares index fell 1.2% and Taiwanese shares fell 1.6%.

MSCI’s broadest index of Asia-Pacific stocks fell 1.3%, after a 0.4% decline for the global index on Wednesday.

US E-mini stock futures indicated a 0.4% reboot for the S&P 500, after falling 0.2% overnight.

UK FTSE futures and Germany’s DAX futures were down about 0.4%.

While nearly all Fed officials agreed to keep interest rates steady last month, meeting minutes released on Wednesday showed that the vast majority of expected policy would eventually need to be further tightened.


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