Asia-Pacific markets are mostly up even as yields of U.S. 10-year Treasury bonds hit levels not seen in over a decade.
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The benchmark 10-year Treasury note yield hit a high of 4.34%, reaching its highest level since November 2007. This is notable as higher bond yields generally mean lower stock prices.
Japan’s Nikkei 225 climbed 0.97%, extending its gains from Monday and closed at 31,856.71, while the Topix rose 1.08% and ended at 2,265.71.
Overnight, SoftBank Group’s chip unit Arm filed for a Nasdaq listing that is expected to be the largest of the year.
South Korea’s Kospi also gained 0.28% to finish at 2,515.74, and the Kosdaq was 0.52% up to end at 893.33. The Australian S&P/ASX 200 hovered just above the flatline and ended 7,118.9.
Hong Kong’s Hang Seng index snapped a seven-day losing streak and gained 1.07% in its final hour of trade, while on mainland China, the CSI 300 was up 0.77% to close at 3,758.23.
