Mel Siew News Today

The Straits Times Index was down 1.2 per cent as at 9.25am. Read more at straitstimes.com.

Asian stocks fell to a 11-month low on Wednesday after another piece of resilient U.S. economic data sent Treasury yields to fresh highs, while a sharp rise in the yen had traders speculating that Japanese authorities stepped into the market. The yen breached the 150-per-dollar level before suddenly shooting to 147.3. There was no confirmation from Tokyo, where Japan's top currency diplomat made no direct comment on the move.

Risk appetite sours as investors bet interest rates will remain higher for longer

* 10-year Treasury yields hit 16-year high above 4.8% * Yen jumps; Japan officials not confirming intervention * Rising dollar... -October 03, 2023 at 11:08 pm EDT - MarketScreener

MSCIs broadest index of Asia-Pacific shares outside Japan fell 0.4% to its lowest since November, with Australian shares also hitting an 11-month trough and South Koreas Kospi back from a break with a 1.8% fall.

A rout in government bond markets deepened on Wednesday with U.S. yields reaching their highest in 16 years, souring appetite for riskier assets as investors bet that interest rates will remain... -October 04, 2023 at 07:27 am EDT - MarketScreener

A Treasuries rout extended on Wednesday, with yields for five-year maturities and beyond striking highs not seen in 16 years, as markets brace for strong U.S. jobs to herald higher rates. ...

Stocks fell on Wednesday as an ongoing rout in global bond markets saw U.S. bond yields reach 16-year highs, challenging equity valuations and souring appetite for risk assets as investors bet... -October 04, 2023 at 04:02 am EDT - MarketScreener

The British pound was last 0.02% lower at $1.2936, after tumbling more than 0.7% on Wednesday in the wake of data that showed Britains high rate of inflation falling more than expected in June to its slowest in over a year at 7.9%.

Sterling takes a beating as it struggles to recover from a sharp fall following UK inflation data that undershot market expectations.