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
Bank shares down
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.