Rising US Yields Weigh on Asian Stocks, Yen Falls as Markets Eye Inflation Data and Biden-Xi Summit
- Higher US Treasury yields hurt Asia stocks, send yen to 1-year low vs dollar
- Nikkei gives up early 1% gain to end flat; Hang Seng stays afloat on tech
- Nomura strategist sees equities near peak with yields limiting upside
- Big events ahead including US/China inflation data and Biden/Xi meeting
- Oil prices ease on demand worries though supply concerns persist