Asian equities slide despite yields calm after bond market sell-off By


© Reuters.

By Gina Lee – Asia Pacific stocks fell mostly on Tuesday morning, giving up some earlier gains even as a recent selloff in bond markets slowed and calmed investors’ nerves. Hong Kong fell 1.08% at 10:23 PM ET (3:23 AM GMT), and Hang Seng Indexes Co. revealed radical changes in the indicator on Monday. The changes include increasing the number of components to 52, limiting a stock‘s weight to 8%, and shortening the listing history requirement for a company to be listed. The implementation of the changes is scheduled to begin in the May index revision and could last until mid-2022. China fell 1.05% and 0.08%. The country’s National People’s Congress opens on Friday, where Prime Minister Li Keqiang will deliver a 2021 work report that reportedly will not include an explicit economic growth target for the second year in a row. In Australia, it was up 0.19%, and the Reserve Bank of Australia issued its interest rate decision later that day. Japan was down 0.71%. South Korea’s rose 1.46%, and South Korean markets returned after a vacation. Investors turned to risky assets, following a recent selloff fueled by concerns that massive stimulus packages and progress in the battle against COVID-19 have increased the risk of overheating in some areas of the economy. . They will now assess the reactions of US Federal Reserve officials to the recent turmoil, and the Fed chairman will speak at a Wall Street Journal event on Thursday, where he is expected to discuss the economy. “There is nothing wrong with longer-term interest rates where they are; financial conditions in general remain fairly easy … given the stabilization we have seen since Thursday, the Fed can breathe a sigh of relief, ”MacroPolicy Perspectives LLC founder Julia Coronado told Bloomberg. On the stimulus front, Senate Majority Leader Chuck Schumer said the $ 1.9 trillion stimulus package proposed by President Joe Biden earlier in the year and approved by the House of Representatives earlier in the week . The United States is also scheduled to release economic data throughout the week, starting with the Fed on Wednesday and followed by Thursday’s data. The February employment report, which includes and, will also provide an update on the recovery of the US labor market from COVID-19. Meanwhile, the World Health Organization warned on Monday that the number of global cases increased for the first time in nearly two months over the past week.

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