Asian stocks ignore rising T-yields, track Wall Street higher

The rising Treasury yields and the threat of the resulting capital outflows out of Asia have not yet dented the risk-on sentiment in the major Asian equity markets.

At the time of writing, Australia’s S&P/SAX 200 was up 1.10%. Stocks in New Zealand rallied 0.20% as well.

Japan’s Nikkei is closed on account of a trading holiday. The index entered the bull market earlier this month. China’s Shanghai Composite Index strengthened 0.23%.

Wall Street continued its record run on Friday, which helped Asian equities ignore the threat of capital outflows and score gains.

The 10-year treasury yield was last seen trading two basis points lower at 2.314%. Meanwhile, the S&P 500 futures were trading dead flat.