Asian shares ease on upbeat bond yields, subdued U.S. figures

19.02.2021 - Kulakov Vladimir
Asian shares ease on upbeat bond yields, subdued U.S. figures

Asian share markets retreated from their all-time record peaks on Friday. The series of declines followed after longer-dated bond yields advanced and U.S. economic figures plunged, greatly dragging investors’ hopes for a rapid economic rebound from the coronavirus crisis.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1% lower, easing from its 745.89 record seen on Thursday. Moreover, it is currently heading for another weak session after seeing two consecutive weeks of gains.

Australia’s benchmark S&P/ASX 200 dropped 0.8%, while Japan’s Nikkei recorded a 0.4% decline. Chinese shares started turbulently as the CSI300 index inched 0.6% lower.

Core bond yields were seen advancing as investors bet on a rebound in growth and inflation. This reflation trade could be attributed to coronavirus vaccine rollouts and massive fiscal spending under U.S. President Joe Biden.

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