Asian stock markets rebounded Tuesday after Wall Street sank under pressure from worries about higher interest rates and after Japan reported stronger wage...
BEIJING — Asian stock markets rebounded Tuesday after Wall Street sank under pressure from worries about higher interest rates and after Japan reported stronger wage gains than expected.
The Nikkei 225 NIK in Tokyo gained 0.1% after the government reported wages rose 4.8% over a year earlier in December. That was close to a three-decade high as workers press for higher pay to keep pace with inflation.The Kospi 180721 in Seoul added 0.6% and Sydney’s S&P/ASX 200 XJO slipped 0.4%. Stocks in New Zealand NZ50GR and Singapore STI declined while Taiwan Y9999 and Indonesia JAKIDX advanced.
Expectations for the Fed to reverse course quickly are unrealistic, Clifford Bennett of ACY Securities said in a report. The yield on the two-year Treasury, which tends to track expectations for the Fed, leaped by an unusually wide margin to 4.47% from Friday’s 4.29% and the previous day’s 4.1%.
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