Asia-Pacific markets mostly decline as investors brace for further hikes ahead
Publishing timestamp: 2023-03-01 22:20:38
Summary
Asia-Pacific markets were trading lower as investors braced for further hikes from the Federal Reserve. In Japan, Nikkei 225 and Topix dropped, while South Korea's Kospi climbed and Kosdaq shed. Tesla's stock fell more than 5% in after hour trade. Nio's share price in Hong Kong has fallen more than 12% year to date. Japan's cabinet office annual corporate survey showed sector-based gross domestic production forecasts for year ahead averaged at 1.3%. U.S. 10-year Treasury yield briefly topped 4% overnight. Amazon Web Services announced plans to set up "infrastructure region" in Malaysia and invest $6 billion in country by 2037. Nio reported widening net loss of 5.79 billion Chinese yuan ($838.9 million) for fourth quarter. South Korea's manufacturing purchasing managers index remained in contraction territory for eight straight month. Japanese financial institutions have indicated interest in buying Japanese government bonds.
Sentiment: MIXED
Tickers: .N225, .DJI, NIO, .HSI, AUD=, .SSEC, @LCO.1, 6752.T-JP, .KS11, 8411.T-JP, .DXY, .SPX, .AXJO, TSLA, US10Y, .IXIC, XLKS-GB, 8316.T-JP, .SZI, JPY=, @CL.1,
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