Asia Markets Rise as US 10-year Hit 16 Years High & Rice Inflation

All major Asia indices have rise on this morning (Tue 22 Aug). Leading pack by Hong Kong’s HSI over +0.9% to 17,780, followed by Japan’s NIKKEI with +0.7% to 31,780 and Korea’s KOSPI is +0.55% to 2,520. While others have a little change but mostly back on the green, after yesterday China central bank’s lower than expected rate cut causing all Chinese indices going red.


Meanwhile US 10-year Treasury note rate has hit 4.34%, the highest in past 16 years since 2007 which should be a negative pressure to stock prices, but last night US indices went up such as +1.6% for NASDAQ to 15,000 level and +0.7% for S&P to 4,400 level.


Another concern for Asia market is rice price inflation due to El Niño or an effect from climate change. Causing lower rice production and major rice exporter like Thailand and India would reduce thier volume or even ban the export, thus the highest rice price in almost 12-year high with All Rice Price Index rise to 129.7 or +2.8% in July.