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Bonds, US-China trade, currencies in focus



Stocks in Asia fell on Thursday morning as the US Treasury's main yield curve turned, triggering fears for the state of the US economy.

In Japan, Nikkei 225 fell 1.88% in the morning trade, while the Topix index fell 1.73%. Australia's S & P / ASX 200 also fell 1.91%.

The MSCI Asia ex-Japan index fell a total of 0.59%.

The markets in South Korea and India are closed on Thursday for holidays. ] Investors will follow the bond market today, after the return on the benchmark index for the 10-year Treasury fell short of the 2-year overnight rate, a strange bond market phenomenon that has historically been a reliable indicator of economic downturns. The yield on the 30-year government bond was also sent to a new record low on Wednesday.

The return inversion between 1

0 and 2-year Treasury notes occurred again in the morning during the Asian trading hours, with the yield on the 10-year Treasury note being 1.5741%, compared to the 2-year rate of 1.5751%.

Bank shares down

Asia-Pacific Market Indexes Chart

Currencies and oil

The US dollar index, which tracks the greenback against a basket of its peers, was at 97,977 after rising from levels below 97.8 yesterday .

The Japanese yen, widely regarded as a safe harbor currency, traded at 105.89 against the dollar after strengthening sharply from levels above 106.5 in the previous session. The Australian dollar changed hands to $ 0.6755 after falling from levels above $ 0.667 yesterday.

Oil prices slipped in the morning during the Asian trading hours after witnessing heavy losses on Wednesday. International benchmark portfolio for Brent crude oil futures fell 0.61% to $ 59.12 per barrel, while US crude futures plunged 0.43% to $ 54.99 per barrel.

Here is a look at some of the data that is today:

  • Australia: Employment data for July at 9:30 am HK / SIN
  • China: Sale of Homes for July at 9:30 am HK / SIN
  • Hong Kong Revenue: Ping An Group, Vanke

– CNBC's Yun Li contributed to this report. [19659019]
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