On Tuesday (6 October, 9:20 AM, GMT+7, Bangkok time), most major indices in the Asia-Pacific mirrored a strong performance in U.S. markets, where the Nasdaq Composite reached a new record, bolstered by robust demand for the artificial intelligence sector. This upward trajectory came despite continued pressure from high U.S. Treasury yields.
Market participants appeared to shift their attention away from persistent macroeconomic headwinds, including rising interest rates, elevated energy prices, and revived inflation concerns that have contributed to a sharp move higher in global bond yields. Instead, investors have concentrated on positive corporate results, ongoing strength in consumer spending, and a surge in AI-driven investments, providing momentum for equity gains.
Meanwhile, yields on Treasuries remained a key area of attention, with the 10-year note climbing above 5.3%—levels not seen since 2002—while the 30-year yield rose past 5.7%, marking a 24-year peak.
Morgan Stanley Wealth Management observed in a note to clients that government bonds have experienced considerable volatility during the last six weeks, pointing to a possible shift in the Fed’s policy framework, signs of economic expansion, and persistently elevated oil prices combined with the ongoing conflict in the Middle East as driving forces behind these moves.
Notably, markets in mainland China remain closed for the Golden Week holiday.
Japan’s NIKKEI rose by 0.27% to 70,136.03. South Korea’s KOSPI contracted by 0.28% to 6,984.04, and Australia’s ASX 200 grew by 0.66% to 8,744.10. Hong Kong’s HSI advanced by 0.70% to 24,209.26.
The U.S. stock markets edged up on Monday as the Dow Jones Industrial Average (DJIA) climbed by 0.18% to 51,267.90. NASDAQ surged 1.05% to 27,477.31, and S&P 500 gained 0.66% to 7,773.95. VIX jumped by 1.37% to 15.52.
As for commodities, oil prices settled lower on Monday, following a rise in crude shipments from the Middle East and commitments by the Group of Seven nations to enhance supply. Brent crude futures ended the day at $100.32 per barrel, decreasing by $1.93, or 1.89%. U.S. West Texas Intermediate crude dropped $1.68, or 1.84%, to settle at $89.43 a barrel.
This morning, Brent futures increased 32 cents, or 0.32%, to $100.64 per barrel, and WTI futures were up 13 cents, or 0.15%, to $89.56 per barrel.
Meanwhile, gold futures rose by 0.01% to $4,157.30 per Troy ounce.
