Asian stocks subdued on yen caution, US inflation in focus [Reuters]
News Corporation - Class B (NWS)
US:NASDAQ Investor Relations:
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Source: Reuters
decline and awaited U.S. inflation data later on Wednesday for clues to future interest rate moves. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) New Tab , opens new tab was up 0.2%, after U.S. stocks ended the previous session with mild gains. The index is up 0.2% so far this month. The yield on benchmark 10-year Treasury notes was at 4.3636% compared with its U.S. close of 4.366% on Tuesday. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 4.7426% compared with a U.S. close of 4.747%. Australian shares (.AXJO) New Tab , opens new tab were up 0.3% in early trade, while Japan's Nikkei stock index (.N225) New Tab , opens new tab was down 0.41%. The Nikkei is looking to test 40,000 points again, with the yen's slide seen helping fuel that push. However, further weakness in the Japanese currency could prompt authorities to intervene, especially if the yen breaks 152 per dollar. "Market participants
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