Japanese Shares Gain Despite Bond Rout
The Nikkei 225 Index climbed 0.6% to around 65,900 on Friday, extending gains to a fifth consecutive session even as global bond yields continued to rally on rising inflationary risks and mounting fiscal concerns. On Thursday, the 10- and 30-year US Treasury yields rose to their highest levels since 2007 and 2004, respectively, while Japan’s 10-year yield climbed to its highest level since 1996. Meanwhile, oil prices eased on reports that the US and Iran were considering a phased agreement that could reopen the Strait of Hormuz and lift a US blockade on Iranian ports, helping relieve some pressure on equities. Investors also continued to monitor US-China negotiations that could pave the way for new trade agreements. Technology and banking stocks led the gains, with Kioxia Holdings rising 1.8%, Advantest gaining 1.3%, Ibiden Co advancing 2.7%, Mitsubishi UFJ up 2%, and Sumitomo Mitsui climbing 2.5%.
6% to around 65,900 on Friday, extending gains to a fifth consecutive session even as global bond yields continued to rally on rising inflationary risks and mounting fiscal concerns. On Thursday, the 10- and 30-year US Treasury yields rose to their highest levels since 2007 and 2004, respectively, while Japan’s 10-year yield climbed to its highest level since 1996. Meanwhile, oil prices eased on reports that the US and Iran were considering a phased agreement that could reopen the Strait of Hormuz and lift a US blockade on Iranian ports, helping relieve some pressure on equities.
Investors also continued to monitor US-China negotiations that could pave the way for new trade agreements. 5%.