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Asian shares subdued as global growth woes linger; sterling rises


Added 10-09-18 10:03:01pm EST - “Asian shares steadied in early Wednesday trade after world stocks hit eight-week...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Asian shares subdued as global growth woes linger; sterling rises”. Below is an excerpt from the article.

TOKYO (Reuters) - Asian shares steadied in early Wednesday trade after world stocks hit eight-week lows the previous day on worries about global economic growth, although the pound stayed firm on hopes for a Brexit deal.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged up 0.3 percent, while Japan's Nikkei .N225 gained 0.25 percent. The Australian benchmark was up 0.11 percent.

“As uncertainty continues to prevail in financial markets across the world, many investors are staying on the sidelines until more clarity emerges in U.S. Treasury and Chinese markets,” said Yasuo Sakuma, chief investment officer at Libra Investments.

Benchmark U.S. 10-year Treasury yields US10YT=RR touched a 7-1/2-year peak of 3.261 percent and those on 30-year bonds US30YT=RR hit their highest in more than four years.

The 30-year bond yields had risen on the prospect of Federal Reserve rates rising over the next 18 months or so, but later fell back.

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