Market LIVE: Asian stocks, Treasuries steady before U.S. data, Fed minutes

Market


Benchmark Indian equity indices may open steady today. The SGX Nifty was up 0.21%. On Tuesday, the Sensex closed at 58,664.33, up 198.44 points, or 0.34% Tuesday. Nifty settled at 17,503.35, up 86.80 points, or 0.5%.

24 Nov 2021, 07:33:38 AM IST

Asia stocks set for steady start

Asian stocks were steady Wednesday and Treasury yields held a climb as traders weighed the risk of tighter monetary policy to curb inflation and awaited U.S. data as well as Federal Reserve minutes.

Shares fell in Japan and fluctuated in China and Hong Kong. U.S. futures were little changed after energy and financials helped the S&P 500 eke out a gain, while the Nasdaq 100 extended a drop. A slew of reports are due later in the day on U.S. economic activity and inflation pressures.

The 10-year U.S. Treasury yield was around 1.65%. The prospect of the Fed speeding up the withdrawal of monetary stimulus has tempered bond market inflation expectations, though they remain elevated.

New Zealand’s currency weakened after the nation raised interest rates to 0.75% to curb price pressures, a smaller move than some had expected. The central bank projected 2% benchmark borrowing costs by the end of 2022.

 

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