Asian stock exchanges nervous about rising US bond yields

Stock exchanges Asia

Asian investors are nervous.

(Photo: AP)

Hong Kong The stock markets in Asia were initially unsettled in early trading on Wednesday. The prospect of a faster tightening of US monetary policy weighed on investors. The fears were fueled by the nomination of the US Federal Reserve chief Jerome Powell for a second term in office.

“There is a risk that the Fed will accelerate the tapering, which in turn means that the schedule for tightening monetary policy will be brought forward, which will contribute to a stronger dollar,” said foreign exchange strategist Sim Moh Siong of the Bank of Singapore.

The Nikkei index, which comprises 225 values, was 1.1 percent lower at 29,437 points. The broader Topix index fell 0.8 percent and stood at 2027 points.

The Shanghai stock exchange was 0.2 percent in the red. The index of the most important companies in Shanghai and Shenzen lost 0.1 percent

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