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Hang Seng and Taiwan Taiex fall as bond worries and oil volatility rise
Hong Kong’s Hang Seng slipped 0.3% below 25,000 for a second straight session, while US crude jumped 2.35% to $94.33 a barrel.
Asian markets ended lower as traders tracked a Wall Street decline tied to renewed concern about rising bond yields and sharp swings in crude oil prices, which investors said could keep inflation pressure elevated.
Hong Kong’s Hang Seng fell 0.3% to remain below 25,000 for the second consecutive session, while Shanghai Composite dropped 1.2% to 3,888.37, its biggest intraday decline in a month, according to LiveMint Markets. Taiwan’s Taiex edged down 0.28% to close at 48,025 after paring gains and snapping a six-session winning streak.
The broader backdrop was unsettled global rates after the US 10-year Treasury yield steadied at 5.12% following a surge of 15 basis points the prior day, the largest one-day increase since turmoil linked to President Donald Trump’s April 2025 tariff announcement, LiveMint Markets reported. Japan’s 10-year JGB yield rose 8 basis points to 3.055%, its highest since August 1996.
LiveMint Markets also pointed to energy moves adding to the pressure on markets: benchmark US crude rose 2.35% to $94.33 a barrel, while Brent gained 2.77% to $106.94. Investors also appeared cautious ahead of a potential US-China meeting in Washington between Donald Trump and Xi Jinping, with skepticism that it would deliver a broad breakthrough.
Latest closeWTI crude $91.79 ▼3.0%|Brent $97.67 ▼1.6%|Hang Seng 25,042.71 ▲1.2%