Asian stocks fall as oil tops $100 and Treasury yields remain elevated

  • Asian stocks declined broadly as technology shares led regional losses.
  • Brent crude rose to about $101.4 a barrel after breaking above $100.
  • Investors awaited U.S. producer prices Thursday and consumer prices Friday.

Asian equities broadly declined on Thursday, led by technology shares, after the Nasdaq Composite fell 0.6% overnight. Brent crude futures rose to about $101.4 a barrel after moving above $100 for the first time since July, while the 10-year U.S. Treasury yield held near 4.84%. Higher energy costs and borrowing rates have increased pressure on growth-stock valuations and complicated the outlook for central banks. Japan's Nikkei 225 fell 0.8%, South Korea's KOSPI dropped 1.1% and Hong Kong's Hang Seng index slipped 1.6%. Investors were focused on U.S. producer prices due Thursday and consumer prices due Friday. Fed funds futures were pricing about a 60% chance of a Federal Reserve rate hike at its Sept. 15-16 meeting, according to CME FedWatch.

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Asian stocks fall as oil tops $100 and Treasury yields remain elevated - CoinPost Terminal