Asian stocks open mixed as bond yields top 4%
In short
Asian stocks were mixed as markets reacted to rising bond yields. Last week, the average yield on a global bond gauge went above 4% for the first time since 2007.
Investors worried higher borrowing costs could slow the economy and hurt company earnings. The exact impact on each market is not fully stated.
What the reporting says
Asian stocks opened mixed as investors grew more cautious after the average yield on a global bond gauge climbed above 4% for the first time since 2007. The reporting says traders feared higher financing costs could eventually hurt the economy and company earnings. The immediate market effect is a mixed open in Asia, while the source does not give a full country-by-country stock move list.
Why it matters
Asian stocks opened mixed after a global bond yield gauge moved above 4% for the first time since 2007, according to the reporting. Investors were said to worry that higher financing costs could weigh on the economy and on company earnings. The source does not identify the specific Asian exchanges or name the exact rate-hike expectations behind the move.