SINGAPORE — Shares in Japan were poised to open lower Friday as investors watch bond yields as well as technology stocks in Asia.
Futures pointed to a lower open for Japanese stocks, with the Nikkei futures contract in Chicago at 28,850 while its counterpart in Osaka was at 28,930. That compared against the Nikkei 225’s last close at 28,930.11.
Meanwhile, stocks in Australia slipped in morning trade, with the S&P/ASX 200 down around 0.7%.
Powell comments
On Thursday, U.S. Federal Reserve Chair Jerome Powell said the economic reopening could “create some upward pressure on prices.” He said he expects the central bank to be “patient” in terms of acting on policy, even if the economy sees “transitory increases in inflation.”
Powell noted, however, that the recent rise in yields did catch his attention, as have improving economic conditions.
Bond yields rose again following Powell’s comments. The benchmark 10-year U.S. Treasury yield last stood at 1.5571%.
Tech stock watch
Investors will again monitor technology stocks in Asia after the Nasdaq Composite fell 2.11% to 12,723.47 on Thursday — turning negative for 2021.
The S&P 500 closed 1.34% lower at 3,768.47 while the Dow Jones Industrial Average declined 345.95 points to finish its trading day at 30,924.14.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.619 following a rise from levels below 91.2.
The Japanese yen traded at 107.97 per dollar, weaker than levels below 107.4 against the greenback seen yesterday. The Australian dollar changed hands at $0.7713, off levels around $0.783 seen earlier in the week.
Source: CNBC