Global market update: APAC shares gain modestly, US yields touch 5-month high
Investing.com | Editor Oliver Gray
Published Apr 09, 2024 10:29
Investing.com - Asian-Pacific stock markets, including the ASX 200, Kospi 200, and Nikkei 225, opened higher on Tuesday, with increases of 0.2%, 0.8%, and 0.6% respectively, following a stable performance of US stocks overnight as 10-year yields spiked to 5-month highs.
In the US, the stock market remained largely unchanged as investors anticipated new inflation data that could influence interest rates. The S&P 500, NASDAQ Composite, and Dow Jones Industrial Average ended Monday virtually unchanged.
Tesla Inc (NASDAQ:TSLA) jumped 4.9% after CEO Elon Musk announced the unveiling of a self-driving Robotaxi in August. On the other hand, shares of entertainment conglomerate Paramount Global fell 7.6%.
In the commodities market, Brent crude oil dropped by 0.6% to US$90.63 a barrel, while gold increased by 0.4% to US$2,339.03. The yield on Australian 2 Year government bonds rose to 3.80%, with the 10 Year yield also increasing to 4.19%. The US Treasury notes similarly saw a rise, with the 2 Year yield at 4.79% and the 10 Year yield at 4.42%.
In Asia, Chinese shares fell, with the Shanghai Composite Index down by 0.7% and the Shenzhen Composite Index shedding 1.6%. In contrast, Hong Kong's Hang Seng Index edged 0.05% higher, and Japan's Nikkei Stock Average rose 0.9%, boosted by strong US jobs data.
Indian shares closed higher, led by auto and steel stocks, with the Sensex index ending 0.7% higher at 74742.50.
In Europe, stocks rose for the day, with the Stoxx Europe 600, Germany's DAX index, and France's CAC 40 all recording gains. The FTSE 100 index also closed higher, lifted by mining stocks and a strong performance from betting-and-gambling group Entain.
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