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Global market update: APAC shares open higher amid bond market turbulence

Published 24/10/2023, 10:41 am
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Investing.com - APAC markets are trading in positive territory on Tuesday, following a turbulent session on Wall Street as bond markets remained volatile.

By 10:40am AEST (11:40pm GMT) the S&P/ASX 200 and Nikkei 225 Futures added 0.3% and 0.4% respectively.

US stocks mostly closed lower on Monday after a choppy trading session that saw the 10-year Treasury yield briefly exceed 5% for the first time in 16 years. The S&P 500 index ended about 7 points lower or 0.2%, near 4,216, marking its fifth consecutive session of losses. The Dow Jones Industrial Average fell around 191 points or 0.6%, finishing near 32,936, while the Nasdaq Composite Index rose 0.3%.

Investors are keenly focused on company earnings, with tech giants such as Microsoft Corporation (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL) Inc (NASDAQ:GOOG), Meta Platforms Inc (NASDAQ:META), and Amazon.com Inc (NASDAQ:AMZN) set to report their third-quarter figures this week.

In the commodities markets, Brent crude oil fell 1.8% to US$90.44 a barrel, while gold prices eased 0.2%.

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In Asia, Chinese shares continued their downward trend from last week, with the benchmark Shanghai Composite Index falling 1.5% to 2939.29. Hong Kong shares also declined for the third straight session amid a broader regional downturn. Japanese stocks ended lower, impacted by falls in electronics and steel stocks.

In Europe, the STOXX 600 ended 0.1% lower at 433.27, the CAC 40 was up 0.5%, and DAX ended flat. The FTSE 100 fell 0.4% to 7370.81, hitting an eight-week intraday low of 7356.28.

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