The record high close failed to carry into the Asia Pacific region today. A disappointing Chinese and news that Beijing imposed wide-ranging restrictions on the financial divisions of 13 companies weighed on activity.
China’s Tencent and Meituan were among the biggest losers, and Hong Kong’s led the region lower with a nearly 2% drop. Still, the fell for the fourth consecutive week, and Korea’s snapped a four-week advance.
Europe’s Dow Jones , less tech sensitive, is edging up to pare yesterday’s loss.
It was nearly flat for the week coming into today and is about 2.3% higher on the month.
US shares are heavier today, and the S&P 500 is up about 0.75% this week, and the is around 0.5% higher coming into today. Both are up about 6% on the month. The US yield is firm near 1.65%, while European yields are slightly softer.
On the week, yields have risen nearly eight basis points in the...read more...