US Futures Show Gains While Asian Stocks Rise – Asia Market Wrap

Asian markets crept higher as traders balanced rising forecasts of Fed interest rate reduction with persistent weakness in technology stocks.

On Friday, stocks in Australia, Japan, Hong Kong, and South Korea rose, as did US equity futures contracts. Chinese shares in Hong Kong and mainland China varied, as the Yen strengthened against the Dollar ahead of next week’s BoJ meeting.

Taiwanese shares were the worst performers, falling up to 4.3% when trading reopened following Typhoon Gaemi interruptions. The drops were a catch-up to recent tech-related declines in global markets, with Taiwan Semiconductor Manufacturing falling as high as 6.5%.

The US 10-year yield was barely changed in Asian trading, after falling four basis points on Thursday as Treasuries rose. US government debt rose as traders balanced signals of a healthy US economy against requests for the Fed to decrease interest rates more quickly. The swaps market is now pricing in the first rate drop for September.