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☆ Asia stocks fall as weak China data weigh
▼ + stars: | 2023-08-16 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

China reported weaker than expected July activity data Tuesday, accompanied by news that Beijing would no longer publish youth unemployment data. Wong said he was most concerned about month-to-month decline of China's retail sales and weak infrastructure investments, which suggested lack of funding from local governments. China's industrial output and retail sales growth both slowed from a month earlier to a year-on-year pace of 3.7% and 2.5% respectively, missing expectations. If the decline begins to accelerate, it will feed back on weaker consumer confidence and weigh on already feeble retail sales growth. All three major U.S. equity indexes ended Tuesday lower, after a stronger-than-expected report on U.S. retail sales data.

Persons: Issei Kato, HONG KONG, Australia's, Redmond Wong, Wong, Hang, John Milroy, Ord Minnett, Tina Teng, Ord Minnett's Milroy, Brent, Kane Wu, Lincoln Organizations: REUTERS, Japan's Nikkei, Saxo Markets, Dow Jones, Nasdaq, Fed, New Zealand, CMC, Canada, BHP, Thomson Locations: Tokyo, Japan, HONG, Asia, Asia Pacific, China, Beijing, Greater China, Wedneday

☆ Asia markets poised to fall as bank stocks retreat under pressure on Wall Street
▼ + stars: | 2023-08-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets are set to fall on Wednesday mirroring moves on Wall Street after a decline in U.S. banks. Shares of JPMorgan Chase and Wells Fargo dropped 2%, and Bank of America dropped 3%. The action came after Fitch warned it may have to downgrade credit rating dozens of banks, including JPMorgan Chase. Futures for Hong Kong's Hang Seng index stood at 18,360, pointing to a weaker open compared to the HSI's close of 18,581.11. In Australia, futures for the S&P/ASX 200 also point to a lower open, at 7,168 compared to the last close of 7,305.6.

Persons: Wells Fargo, Fitch, Moody's Organizations: Bund, JPMorgan Chase, Bank of America, Asia Japan's Nikkei Locations: Shanghai, China, Asia, Pacific, U.S, Chicago, Osaka, Australia

☆ Asia markets set for mixed open ahead of key data from Japan and China
▼ + stars: | 2023-08-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Photographer: Kentaro Takahashi/Bloomberg via Getty ImagesAsia-Pacific markets are set for a mixed open on Tuesday ahead of key economic data out from Japan and China. Japan will release its second quarter gross domestic product, while China will see its industrial output and retail sales figures for July. Expectations from economists polled by Reuters were Japan's economy will grow 0.8% on a quarter on quarter basis and 3.1% on an annualized basis. Futures for Hong Kong's Hang Seng index stood at 18,680, pointing to a weaker open compared to the HSI's close of 18,773.55. Hong Kong looks set to extend losses for a third straight day, after the HSI slid 1.58% on Monday.

Persons: Kentaro Takahashi, HSI Organizations: Bloomberg, Getty Images, Japan's Nikkei, Reuters, Reserve Bank Locations: Shibuya, Tokyo, Japan, Getty Images Asia, Pacific, China, Chicago, Osaka, Hong Kong, Australia

☆ Asia markets set for mixed open as investors look ahead to Japan data
▼ + stars: | 2023-08-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Tokyo Skytree (R) and Mount Fuji are seen from the I-link Town observatory in Ichikawa city, Chiba prefecture, east of Tokyo on July 2, 2023. Asia-Pacific markets are set to start mixed on Monday as investors look toward key data from Japan and China later in the week. Futures for Hong Kong's Hang Seng index stood at 18,857, pointing to a weaker open compared to compared to the HSI's close of 19.075.19. This would be the first time in almost a month that the HSI went lower than the 19,000 mark. In Australia, futures for the S&P/ASX 200 also point to a lower open, at 7,251 compared to the last close of 7,340.1

Persons: HSI Organizations: Mount, Nikkei Locations: Tokyo, Mount Fuji, Ichikawa city, Chiba prefecture, Asia, Pacific, Japan, China, Chicago, Osaka, 19.075.19, Australia

☆ Stock Market Today: Dow Futures Waver as Global Markets Drop
▼ + stars: | 2023-08-14 | by ( ) www.wsj.com time to read: 1 min

Global markets slipped Monday, with Japan's Nikkei 225 and South Korea's Kospi retreating. A worsening crisis at the leading Chinese property developer Country Garden, and weak Chinese loan data, weighed on Hong Kong's Hang Seng Index. Index were flat to modestly higher early Monday, while Treasury yields were also little changed. Recent days have seen the summer stock-market rally starting to cool, with the S&P 500 falling modestly for two weeks in a row. In the bond market, the 10-year Treasury yield ended Friday at 4.166%, its second-highest settle this year, after hotter-than-expected producer-price data.

Organizations: Japan's Nikkei, Index, Treasury

☆ China's Country Garden stock plummets to record low, trading of onshore bonds suspended amid debt restructuring talks
▼ + stars: | 2023-08-14 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The Shanghai Country Garden Center pictured on August 9. Country Garden acknowledged last Thursday that it was facing a temporary “liquidity pressure” due to deteriorating sales and a difficult refinancing environment. Troubled giantCountry Garden is the latest major Chinese developer to run into trouble as the country’s property industry grapples with a historic downturn. The crisis at Country Garden is likely to spill over to the property industry and financial markets, analysts from Moody’s Investors Service said Friday. So far, Country Garden hasn’t yet defaulted on any debt.

Persons: hasn’t, CICC, Aly Song, “, ” Organizations: Hong Kong CNN, Garden, CNN, Shanghai Country Garden, Reuters, Country Garden, Longfor, China Resources, ., . China Overseas Land, Investment, Evergrande, Moody’s Investors Locations: Hong Kong, Shanghai, China, . China

Annual consumer price inflation is expected to show a sharp rebound in July to 6.40% from 4.8%, and a slowdown in wholesale price deflation to -2.4% from -4.1%. Investors and the Bank of Japan, meanwhile, will be paying close attention to Japanese inflation data later in the week. Asian stocks have badly underperformed this year, largely due to worries over China which is battling weak growth, deflation, and capital outflows. The MSCI Asia ex-Japan equity index index has now fallen two weeks in a row for the first time since April, and is up only twice in the last eight weeks. Here are key developments that could provide more direction to markets on Monday:- India consumer inflation (July)- India wholesale inflation (July)- Germany wholesale inflation (July)By Jamie McGeever; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly Song, Jamie McGeever, Diane Craft Organizations: Shanghai Stock Exchange, REUTERS, Tencent, Lenovo, Nasdaq, China's, Bank of Japan, Reuters, Thomson Locations: Pudong, Shanghai, China, New Zealand, Philippines, India, Asia, Japan, Beijing, outflows, Germany

☆ CNBC Daily Open: Is China a no-go for U.S. investment?
▼ + stars: | 2023-08-11 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Almost all of the monthly inflation increase came from shelter costs, which rose 0.4% and were up 7.7% from a year ago. Markets reacted favorably, expecting July's tame inflation reading to mean no more interest rate hikes from the Federal Reserve. Investors may want to consider using the recent weakness in chipmaker Nvidia to snatch up shares of the artificial intelligence darling, some Wall Street analysts are saying.

Persons: Dow Jones, Hong, Joe Biden, Biden, they're Organizations: CNBC, of Labor Statistics, Federal Reserve, Dow, Nasdaq, U.S, Wednesday, Oceanic, Atmospheric Administration, Nvidia, Investors Locations: United States, China, U.S, Japan, Hawaii, Maui

☆ Asia markets set for mixed open as U.S. inflation cools more than expected
▼ + stars: | 2023-08-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets are set for a mixed open on Friday after inflation in the U.S. came in lower than expected, raising hopes markets could see a "soft landing" in the inflation fight. On a month-to-month basis, inflation increased 0.2%, in-line with estimates. Futures for Hong Kong's Hang Seng index stood at 19,292, pointing to a stronger open compared to compared to the HSI's close of 19,248.26. However, in Australia, futures for the S&P/ASX 200 point to a lower open, at 7,281 compared to the last close of 7,357.4. Japan's markets are closed for a public holiday, but Asia will see key economic data out from New Zealand on Friday.

Persons: Dow Jones Locations: Auckland , New Zealand, Asia, Pacific, U.S, Australia, New Zealand

☆ Asian shares slip on China worries; U.S. inflation figures awaited
▼ + stars: | 2023-08-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-HoonSINGAPORE, Aug 10 (Reuters) - Asian stocks lost ground on Thursday, still hurting from China's slip into deflation, with investors particularly cautious ahead of a crucial U.S. inflation report that will likely influence the Federal Reserve's monetary policy path. The announcement of a U.S. ban on investments in sensitive technologies in the world's second-largest economy also weighed on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.33% and it looked set to log a second straight week of losses. China is the first G20 economy to report a year-on-year decline in consumer prices since Japan's last negative headline CPI reading in August 2021. Investors have also been unwilling to place major bets this week ahead of a U.S. inflation report due later on Thursday.

Persons: Kim Kyung, Hong, HSI, Rodrigo Catril, Joe Biden, Brent, Ankur Banerjee, Edwina Gibbs Organizations: Yen, REUTERS, Hoon, Federal, Japan's Nikkei, National Australia Bank, Wednesday, Saxo Markets, U.S, CPI, Reuters, Treasury, Thomson Locations: Tokyo, Japan, Hoon SINGAPORE, U.S, Asia, Pacific, Shanghai, China, Beijing, Saudi, Russian

☆ CNBC Daily Open: Inflation, earnings and the American consumer
▼ + stars: | 2023-08-10 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hong Kong's Hang Seng Index dropped 0.95%, while mainland Chinese indexes extended their losses. Markets are waiting for Thursday's July consumer price index report, which will likely show that the pace of price increases is easing — but not enough to get the Federal Reserve to retreat on its inflation fight. The Food and Agriculture Organization All Rice Price Index for July rose 19.7% from a year ago to its highest nominal value since September 2011.

Persons: Hong, Joe Biden's Organizations: CNBC, Nikkei, Dow Jones, Nasdaq, Federal Reserve, Ministry, Disney, Wall, United Nations, Agriculture, Rice, Index Locations: China, —, Beijing, China , Hong Kong, Macao, Panama, United, Thailand

☆ European markets climb on strong earnings ahead of key U.S. inflation print
▼ + stars: | 2023-08-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were higher on Thursday as investors digested a fresh round of corporate earnings and looked ahead to a key U.S. inflation print that could provide hints about the Federal Reserve 's next monetary policy move. The pan-European Stoxx 600 index rose by 0.6% in early trade, with insurance adding 1.7% to lead gains while mining stocks fell 0.4% as the only sector in the red. The European blue chip index closed Wednesday's session up 0.4%, with oil and gas stocks adding 2.3% to lead gains as most sectors finished the day in positive territory. Stateside, stock futures were higher in early premarket trade after another negative session on Wall Street. Back in Europe, corporate earnings continue to roll in and influence individual share price action.

Persons: Dow Jones, Hong Organizations: Federal, Siemens, Zurich Insurance, Thyssenkrupp, Deutsche Telekom, HelloFresh Locations: U.S, London, Asia, Pacific, Europe

☆ Asia markets all fall ahead of U.S. inflation data
▼ + stars: | 2023-08-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The Sydney Opera House, foreground, and buildings in the financial district stand illuminated at dusk in Sydney, Australia Photographer: Cole Bennetts/Bloomberg via Getty ImagesAsia-Pacific markets fell as investors braced for July consumer price index data out from the U.S. on Thursday. Expectations from economists polled by Reuters are the inflation rate will come in at 3.3%, slightly higher from the 3% seen in June. Japan's Nikkei 225 slid 0.33% and the Topix was down 0.16%. The country saw its July wholesale inflation rate — which measures the price companies charge each other for goods and services — slow to 3.6%, down from a revised figure of 4.3% in June. Australia's S&P/ASX 200 traded just below the flatline, with South Korea's Kospi was down 0.43% and the Kosdaq lost 0.77%Futures for Hong Kong's Hang Seng index stood at 19,168, pointing to a lower open compared to the HSI's last close of 19,246.03.

Persons: Cole Bennetts, Australia's, Kospi Organizations: Sydney Opera House, Bloomberg, Getty Images, Reuters, Japan's Nikkei Locations: Sydney, Australia, Getty Images Asia, Pacific, U.S

☆ Asian shares weaken slightly on China deflation risk, bank jitters
▼ + stars: | 2023-08-09 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

In Asia, the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged 0.2% higher, following a 1.2% tumble a day earlier. Producer prices fell for a 10th consecutive month. "It is not likely to see China entering a full deflation path as core CPI is still resilient and driven by services." "Having said that, if we do not see further improvement in consumer sentiment, it is possible to see growing deflation risks in China." Brent crude futures eased 0.2% to $86.00 per barrel and U.S. West Texas Intermediate crude futures also fell 0.2% to $82.73.

Persons: Issei Kato, Gary Ng, HSI, Chetan Ahya, Morgan Stanley, Dow, Stella Qiu, Ellen Zhang, Jamie Freed, Edmund Klamann, Simon Cameron, Moore Organizations: REUTERS, Nasdaq, Japan's Nikkei, PPI, Asia Pacific, Reuters, Wall, U.S, Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, SYDNEY, Italy, Asia, Pacific, Hong Kong, Brazil, Beijing

☆ Asian shares hesitant on China deflation risk, bank jitters
▼ + stars: | 2023-08-09 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

The MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged 0.4% higher after a 1.2% tumble a day earlier. Closely watched China data on Wednesday showed consumer prices fell 0.3% in July from a year ago, the first decline since February 2021, although it was slightly better than the forecast of a 0.4% drop. Producer prices fell for a 10th consecutive month. 10-year yields slipped 2 basis points to 4.004%, after falling 5 basis points overnight to as low as 3.9840%, a one-week trough. Brent crude futures eased 0.2% to $86.02 per barrel and U.S. West Texas Intermediate crude futures also fell 0.2% to $82.73.

Persons: Issei Kato, Carol Kong, Kong, Chetan Ahya, Morgan Stanley, Dow, Stella Qiu, Jamie Freed, Edmund Klamann Organizations: REUTERS, Japan's Nikkei, Commonwealth Bank of Australia, Wall, Nasdaq, U.S, Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, SYDNEY, Italy, Asia, Pacific, Hong Kong, Brazil

☆ Stocks in China fall as consumer prices drop for the first time in more than 2 years
▼ + stars: | 2023-08-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A vegetables stall in the Haizhu area of Guangzhou, China, in May 2023. Stocks in China and Hong Kong fell Wednesday as China's consumer prices slipped into negative territory in July, for the first time in 28 months. The CSI300, which tracks stocks of the largest listed companies in Shanghai and Shenzhen, fell 0.22%. Mainland Chinese markets were lower, with the Shanghai Composite down 0.36% and the Shenzhen Component 0.28% lower. Producer price index fell 4.4% in July compared to a year ago, more than the 4.1% expected by economists polled by Reuters.

Persons: Hong Kong, China's, Mohamed El, Kospi, Australia's Organizations: Shenzhen, Reuters —, Reuters, Allianz, Twitter, Nikkei Locations: Haizhu, Guangzhou, China, Stocks, Hong, Shanghai, Shenzhen, Asia, Pacific

☆ Stock Market Today: Dow Drops 400 Points; Eli Lilly, Novo Nordisk Stocks in Focus
▼ + stars: | 2023-08-08 | by ( ) www.wsj.com time to read: +2 min

Shares of regional banks, including U.S. Bancorp, Key and Comerica, were among the biggest decliners in the S&P 500. The pullback stood to reverse some of Monday’s stock-market gains, which included a roughly 400-point increase for the Dow . Stock indexes fell. The S&P 500, Dow industrials and Nasdaq all declined by more than 1%. Eli Lilly led the S&P 500 higher.

Persons: Dow, Eli Lilly Organizations: U.S . Bancorp, Key, Comerica, Bank of America, JPMorgan Chase, Citigroup, Dow, United Parcel Service, Dow industrials, Nasdaq, Treasury, Shanghai, Nikkei, Bank, Commodities Locations: Europe, Rome, U.S

Sentiment rebounded in China as the blue chip CSI300 index (.CSI300) turned positive to be up 0.07% after initially losing 0.54%. Australian shares (.AXJO) were up 0.15%, while Japan's Nikkei stock index (.N225) rose 0.29% after early trading up by nearly 0.8%. ANZ predicts China's July consumer price index to come in at minus 0.4% year-on-year. "Weak inflation in China should be a global disinflationary force in goods markets going forward." Minor measures to help property markets have been delivered in the past fortnight, but no broad stimulus has been outlined.

Persons: Kim Kyung, Hoon SYDNEY, Hong, HSI, Mizuho, Brent, Scott Murdoch, Lincoln Organizations: Yen, REUTERS, Federal, Japan's Nikkei, Dow Jones, Nasdaq, Global, ANZ, Thomson Locations: Tokyo, Japan, China, United States, Asia, Pacific, U.S, Sydney

☆ Stock Market Today: Dow, Nasdaq Close Lower; Big Bank Stocks Slide
▼ + stars: | 2023-08-08 | by ( ) www.wsj.com time to read: +2 min

A broad sell off in regional bank shares—including KeyCorp and Comerica—made financial stocks among the worst performers in the S&P 500. ET:Stock indexes fell. The S&P 500 and Dow industrials pared some of their losses from earlier in the day, but still ended down. Eli Lilly led the S&P 500 higher. Bank shares were among the biggest losers, with UniCredit and other Italian banks sinking after Rome said it plans a windfall tax.

Persons: Dow industrials, Eli Lilly, Wall Organizations: KeyCorp, Comerica, Bank of America, JPMorgan Chase, Citigroup, United Parcel Service, Dow, Nasdaq, Treasury, Shanghai, Nikkei, Bank Locations: Government, Europe, Rome

☆ Morning Bid: China trade data disappoints, again
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +3 min

U.S. equity markets saw their first positive day in August on Monday, but then along came Chinese trade data. Parsing the export data, David Chao, global market strategist at Invesco, says the miss was driven by lower prices rather than lower volumes, and that Chinese export volumes remain surprisingly robust. Though, he says, "looking at other export-related data such as export orders, the outlook appears weak." Even Chinese imports from Russia fell year-on-year in July, the first fall since Feb 2021. Tuesday looks quiet on the U.S. data front, but traders are bracing for the big one - Thursday's CPI data.

Persons: Alun John ., David Chao, Hong, Intesa, Banca, Banks, Moody's, Fed's Harker, Alun John, Barbara Lewis Organizations: Shipping, cnsphoto, REUTERS, Nasdaq, BPER Banca, Bank of New York Mellon, US Bancorp, Truist, Thomson, Reuters Locations: Shanghai, China, U.S, Hong Kong, Russia, Europe

☆ CNBC Daily Open: Treasury bets
▼ + stars: | 2023-08-08 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. stocks reboundAsia-Pacific markets were tepid on Tuesday, and didn't track a rebound on U.S. indexes overnight. Wall Street analysts say though, Berkshire Hathaway shares are still cheap even at these record levels. Tesla's chief accounting officer, Vaibhav Taneja, is its new CFO and will hold both roles concurrently.

Persons: Berkshire Hathaway, Elon, Tesla, Zach Kirkhorn, Vaibhav, Goldman Sachs Organizations: CNBC, Dow Jones, Nasdaq, CSI, Oracle, Omaha Berkshire Hathaway, Wall Street, Berkshire Locations: Manhattan, New York, U.S, Asia, Pacific, China, Omaha

☆ Asia markets largely rise ahead of China trade data
▼ + stars: | 2023-08-08 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Cargo ships stop at their berths to load and unload containers at the container terminal in Lianyungang Port, East China's Jiangsu province, June 5, 2023. Asia-Pacific markets largely rose on Tuesday as investors focus on China's trade data for July. Futures for Hong Kong's Hang Seng index stood at 19,412, pointing to a weaker open compared to the HSI's last close of 19,537.92. Japan's Nikkei 225 rose 0.33%, while the Topix was up 0.25% as the country's household spending remained in negative territory for the fourth straight month. Overall household spending fell 4.2% year on year in June, compared with 4% in May, official data showed.

Persons: Kospi Organizations: Reuters, Nikkei Locations: Lianyungang Port, East China's Jiangsu, Asia, Pacific, Australia, South

The sunset glow is seen over buildings and a ferris wheel on May 13, 2022 in Beijing, China. Asia-Pacific markets largely fell as investors look ahead to China's inflation figures and trade balance later this week. China will release its trade balance for Tuesday and inflation data on Wednesday, which will give clues on the country's recovery trajectory. Hong Kong's Hang Seng index climbed marginally, but mainland Chinese markets were also all in negative territory. South Korea's Kospi was down 0.85% to close at 2,580.7, marking its fourth straight day of losses, while the Kosdaq saw a larger loss and tumbled 2.2% to end at 898.22.

Persons: Kospi Organizations: Shanghai, Shenzhen Component, Nikkei, Bank of Japan Locations: Beijing, China, Asia, Pacific, Shenzhen, Australia

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. Investors in China's stock markets, however, were clearly underwhelmed, as Hong Kong's Hang Seng Index (.HSI) dropped roughly 2% over the week, while the mainland's benchmark CSI 300 index (.CSI) eked out a 0.7% gain. But investors are becoming frustrated by the time the NDRC is taking to flesh out stimulus policies, or order measures like a cut in stamp duty - that could help China's ailing property sector, and please investors in stocks and bonds. Even in a best-case scenario, growth over the second half of this year looks set to be modest." Reporting by Joe Cash and Albee Zhang in Beijing; Editing by Himani Sarkar & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, HSI, flexibly, Zou Lan, Xu Tianchen, Joe Cash, Albee Zhang, Himani Sarkar, Simon Cameron, Moore Organizations: People's Bank of China, REUTERS, National Development, Reform Commission, Communist Party's, UBS, Council, Economist Intelligence Unit, Weibo, Capital Economics, Thomson Locations: Beijing, China, BEIJING

☆ Asia markets mixed as rising U.S. bond yields pressure equities
▼ + stars: | 2023-08-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

17 May 2022, Australia, Sydney: The Sydney skyline with the famous Opera House. Photo: Carola Frentzen/dpa (Photo by Carola Frentzen/picture alliance via Getty Images)Asia-Pacific markets were mixed on Friday as rising bond yields continue to put pressure on equities in the wake of the U.S. credit downgrade. IG market analyst Tony Sycamore noted the yield on the U.S. 30 year bond rose by 14 basis points overnight to 4.30%, taking the yield towards its October 2022 4.42% high. "The move higher in long end yields is being driven by lumpy bond issuance, resilient data and Fitch's downgrade earlier in the week," Sycamore said. South Korea's Kospi bucked the trend and rose 0.26%, while the Kosdaq was up 0.19%.

Persons: Carola Frentzen, Tony Sycamore, lumpy, Sycamore Organizations: Opera, Getty Images, Reserve Bank, Nikkei Locations: Australia, Sydney, Asia, Pacific

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