Economy
Tokyo Stock Exchange rose more than 1%; Japan bond yields at 30-year high
The 10-year US bond yield has been trading above 5.1% since yesterday and is weighing on markets. Oil is up slightly. Seoul stock exchange closed for holiday.
· Source: TheMarker. Photo as published in article
Most Asian stock exchanges traded in declines, with the exception of Tokyo which jumped 1.2% after two days of closure, while Japan's 10-year government bond yield climbed to its highest level since 1996 and the US bond yield surpassed 5.1% for the first time in almost 20 years.
Trading in most Asian stock exchanges was in decline this morning, with the exception of Tokyo which rose 1.2% after two days of closure. Seoul and Chinese exchanges were closed for holiday, India recorded a decline of 0.9% and Hong Kong a decline of 0.5%. In the oil market, Brent contracts rose 0.3% to $103.29 per barrel. Yesterday's rise in oil prices and concerns about interest rate increases in the US sent the yield on US 10-year government bonds above 5.1% for the first time in almost 20 years, and the yield continues to rise at a minimal rate.
In government bond markets in Japan, Australia and New Zealand, declines were recorded and yields rose. The yield on Japan's 10-year government bond rose to its highest level since 1996, after the Japanese bond market was also closed in recent days, and rose 10 basis points to 3.085%. In the foreign exchange market the dollar remained stable against the euro, pound and Canadian dollar, while the yen added 0.1% and reached 158.18 yen per dollar.
