Nikkei Drops 789 Yen as US 10-Year Yield Hits 4.70% and Oil Stays High
Updated
Updated · moomoo.com · Aug 21
Nikkei Drops 789 Yen as US 10-Year Yield Hits 4.70% and Oil Stays High
3 articles · Updated · moomoo.com · Aug 21
Summary
Tokyo's Nikkei 225 fell 789.10 yen to 65,427.69 at the open on Aug. 21, reversing the prior session's gains as broad selling hit large-cap shares.
US market weakness set the tone after the Dow dropped more than 703 points, while investor sentiment was pressured by a renewed rise in the US 10-year Treasury yield to 4.70%, elevated crude prices and worsening US-Iran tensions.
TOPIX also opened lower, down 21.69 points to 4,038.04, while USD/JPY hovered around 159, adding to the market's focus on rates and currency conditions.
Most stocks found trades within three minutes of the open, and one bank-affiliated securities firm said order flow was not heavily skewed to selling, suggesting limited risk of a deeper intraday slide.