KURE - Asia-Pacific stocks mixed as traders monitor global bond yields Mideast uncertainty

2023-10-24 03:04:46 ET

Japan ( NKY:IND ) +0.20% . Japan Jibun preliminary manufacturing PMI for October 48.5 (prior 48.5).

China ( SHCOMP ) +0.72% . Worries about headwinds in China's housing sector remained pressured sentiment, despite PBOC Governor Pan saying it will make its policy more precise and forcefully while guiding financial institutions to cut real lending rates.

Hong Kong ( HSI ) -0.96% .

India ( SENSEX ) markets closed

Australia ( AS51 ) +0.19% . Australia preliminary PMI: Manufacturing 48.0 (prior 48.7) & Services 47.6 (prior 51.8).

Australian Weekly ANZ Roy Morgan consumer confidence index 78.2 (prior 76.4).

Traders now look ahead to Australian inflation data and Reserve Bank of Australia Governor Michelle Bullock’s remarks later this week.

In the U.S. on Monday, all three major indexes ended mixed , ahead of a busy week with four of big tech companies' earnings.

The benchmark 10-year Treasury note yield briefly climbed back above the key 5% level before ticking down. It was last trading at about 4.85% after Pershing Square’s Bill Ackman revealed he covered his short position on bonds due to growing geopolitical risks.

U.S. stock futures rose on Tuesday as investors look ahead to earnings reports from major technology firms: Dow +0.27% ; S&P 500 +0.41% ; Nasdaq +0.67% .

Investors now look ahead to earnings reports from mega-cap cap tech names Alphabet and Microsoft on Tuesday, along with Spotify, General Motors and Coca-Cola. Meta Platforms, Amazon and Intel will report later this week.

Investors also cautiously awaited US GDP and inflation figures this week that could influence the monetary policy outlook.

Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ).

More on the markets

• Nasdaq, S&P, Dow end mixed as bond market volatility weighs; US10Y retreats from 5%

• Australia factory PMI fall to 48, services PMI return to contractionary zone in October

• Japan factory activity steady and service PMI growth slows in October amid weak demand

• Treasury yield’s 5% reach is bad for the stock market – Jefferies

• The rise in yields is restraining economic activity – What will happen?

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