Asia-Pacific shares trade lower as bond yields rise again; tech stocks decline
Shares in Asia-Pacific slipped in Thursday morning trade following overnight declines on Wall Street as bond yields rose again.
In Japan, the Nikkei 225 fell 1.19% in early trade while the Topix index shed 0.83%. South Korea’s Kospi dropped 1.39%.
Shares in Australia also declined as the S&P/ASX 200 fell 1.32%. Australia’s retail sales and trade data for January are expected to be out at around 8:30 a.m. HK/SIN.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.55% lower.
Technology stocks decline
Investors kept an eye on tech shares in Asia on Thursday after their counterparts stateside fell overnight amid a rise in bond yields.
Shares of Japanese conglomerate SoftBank Group dropped 3.02% in Thursday morning trade while South Korean industry heavyweight Samsung Electronics fell 1.9% while chipmaker SK Hynix slipped 2.38%.
The tech-heavy Nasdaq Composite dropped 2.7% to close at 12,997.75, with shares of Apple, Amazon, Microsoft and Alphabet all dropping more than 2% each.
Reference: CNBC
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