Stock market today: Asian shares mostly rise after US stocks wobble as Treasury bond yields veer
Asian shares are mostly higher after Wall Street wobbled to a mixed close as yields on U.S. Treasury bonds fell back after jumping above 5%
By YURI KAGEYAMA
Published - Oct 24, 2023, 03:06 AM ET
Last Updated - Oct 24, 2023, 09:47 AM EDT
TOKYO (AP) — Shares mostly rose Tuesday in Asia after Wall Street wobbled to a mixed close as yields on U.S. Treasury bonds fell back after creeping above 5%.
Benchmarks rose in Tokyo, Sydney, Seoul, Shanghai and Taiwan, but fell in Hong Kong.
Rapidly rising yields in the bond market that have been pressuring stock prices since the summer seemed set to climb further after the 10-year Treasury briefly topped 5.02% to touch its highest level since 2007.
The S&P 500 quickly slumped 0.8%, but the 10-year yield eventually eased back to 4.84%, down from 4.91% late Friday, as oil prices tumbled to take some pressure off inflation and relax the vise on the stock market.
