Japanese stocks fell to their lowest level in a year and a half on Tuesday and Japanese government bond yields remained near a one-year low as Asia-Pacific equities benchmarks put in a mixed performance in the absence of a firmer lead from Wall Street.
Tokyo-listed equities took an early tumble on Tuesday following a mildly positive session on Wall Street, with the Topix index touching its lowest level in 18 months before pulling back to be down 0.4 per cent as financials fell 1.2 per cent and telecoms stocks gained 1.7 per cent.
In Seoul the Kospi index rose 0.2 per cent while Samsung BioLogics surged as much as 25.6 per cent after the biopharmaceutical unit of Samsung Group managed to avoid delisting in the wake of an accounting scandal.
Sydney’s S&P/ASX 200 rose 0.3 per cent as tech stocks rose 1.8 per cent and the mining segment gained 0.5 per cent.
Hong Kong’s Hang Seng was off 0.3 per cent in morning trading as gains by industrials and tech stocks were offset by losses across all other segments.
Sovereign bond markets were steady as yields, which move opposite to prices, on Japanese government bonds edged up 1 basis point to 0.032 per cent but remained near their lowest level in a year as the country’s stock benchmarks remained under pressure. Yields on 10-year US Treasuries fell 1bp to 2.849 per cent.
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