SINGAPORE — Stocks in Asia-Pacific looked set for a lower start on Tuesday as the 10-year Treasury yield rises.
Futures pointed to a lower open for Japanese stocks, with the Nikkei futures contract in Chicago at 30,085 while its counterpart in Osaka was at 30,040. That compared against the Nikkei 225’s last close at 30,240.06.
Shares in Australia also looked poised to decline, with the SPI futures contract at 7,311.0, against the S&P/ASX 200’s last close at 7,384.20.
Australia’s retail sales data for August is set to be out at 9:30 a.m. HK/SIN on Tuesday.
Investors will watch for movements in SK Innovation shares after the firm announced a plan with Ford Motor to invest more than $11 billion in new U.S. facilities to produce electric vehicles and batteries.
Overnight stateside, the Dow Jones Industrial Average climbed 71.37 points to 34,869.37 while the S&P 500 shed 0.28% to 4,443.11. The Nasdaq Composite dipped 0.52% to 14,969.97.
The mixed moves on Wall Street came as the 10-year Treasury yield briefly crossed 1.5% on Monday, its highest since June. It last sat at 1.4906%. Yields move inversely to prices.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.383 — off levels above 93.4 seen recently.
The Japanese yen traded at 111 per dollar following a weakening from below 110.6 against the greenback yesterday. The Australian dollar changed hands at $0.7283 after yesterday’s bounce from below $0.726.