Asian Markets Slip as Treasury Yields and Oil Prices Climb
Japan's Nikkei led regional declines as a 10-year Treasury yield near 5.31% and rising crude prices heightened inflation concerns.
Key takeaways
- Japan's Nikkei 225 fell 0.9% and South Korea's Kospi lost 0.8%.
- Brent crude rose 2.2% to $102.43 a barrel early Thursday.
Asian shares fell Thursday, with Japan's Nikkei 225 down 0.9%, as rising bond yields and higher oil prices weighed on markets. South Korea's Kospi lost 0.8%, while Hong Kong's Hang Seng slipped 0.2%.
The U.S. 10-year Treasury yield was around 5.31%, after reaching 5.36% Wednesday, its highest level since 2002. Minutes from the Federal Reserve's latest meeting showed most officials expect another rate hike this year.
Oil prices rose amid uncertainty over global crude supplies and the ongoing war between the U.S. and Iran. Brent crude gained 2.2% to $102.43 a barrel early Thursday, while U.S. crude rose 1.9% to $89.96.
This article was produced with the help of AI technology. Source: Yahoo Finance
