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Asia-Pacific shares drop as bond yields rise again

bond yields rise

Asia-Pacific shares dropped following overnight declines on Wall Street as bond yields rose again

The Taiwan stock market ended the two-day slide on Wednesday, in which it had fallen over 500 points or 2.6 percent. The Taiwan Stock Exchange (TSE) is now just above 16,210 point, although it’s likely to drop again on Thursday.

For the day, the index rose 264.85 points or 1.66 percent to end at 16,211.73 after trading as low as 15,884.55.

Among the actives, Cathay Financial climbed 1.55 percent, while Mega Financial rose 0.34 percent, CTBC Financial advanced 0.99 percent, Fubon Financial improved 1.80 percent, First Financial collected 0.47 percent, E Sun Financial added 0.40 percent, Taiwan Semiconductor Manufacturing Company rallied 2.13 percent, United Microelectronics Corporation tumbled 1.52 percent, Hon Hai Precision spiked 3.12 percent, Largan Precision jumped 2.84 percent, Catcher Technology gathered 2.33 percent, MediaTek accelerated 3.33 percent, Formosa Plastic perked 2.85 percent, Asia Cement climbed 1.41 percent and Taiwan Cement gained 1.07 percent.

In other Asia news, shares in Asia-Pacific dropped in Thursday trade following overnight declines on Wall Street as bond yields rose again.

In Japan, the Nikkei 225 dropped 2.19% while the Topix index declined 1.23%. South Korea’s Kospi also fell 1.16%.

Hong Kong’s Hang Seng index shed 2.32%.

The Shanghai composite fell 1.65% and the Shenzhen component declined 3.034%.

According to data published Thursday by the Bureau of Statistics, shares in Australia also declined as the S&P/ASX 200 dropped 0.84%. Australia’s January retail sales rose 0.5% month on month on a seasonally adjusted basis. That compared against expectations for a 0.6% rise in a Reuters poll.

The country also recorded a trade surplus of nearly $7.88 billion, higher than expectations in a Reuters poll for a $5.07 billion trade surplus.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.79%.

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