Sydney Harbour in Australia, featuring the Sydney Opera House and Harbour Bridge.
Raisbeckfoto | E+ | Getty Images
Asia-Pacific markets fell across the board taking cues from U.S. markets overnight, while the Bank of Korea kept its interest rates steady for the sixth time in a row.
This also mirrors moves on Wall Street as U.S. Treasury yields jumped to multiyear highs, with the 10-year Treasury yield breaking above 4.9% for the first time since 2007.
Meanwhile, the average rate on the 30-year fixed mortgage rate hit 8%, the highest level since 2000.
South Korea’s central bank held its interest rate unchanged at 3.50% on Thursday, as expected.
Japan recorded a higher than expected trade surplus of 62.4 billion yen ($416.6 million) for September, while data from Australia showed its unemployment rate fell to 3.6% last month.
In Australia, the S&P/ASX 200 fell 1.14%, erasing all the gains it’s made this week.
Japan’s Nikkei 225 also tumbled 1.42%, while the Topix saw a smaller loss of 1.03% after the trade data was released.
South Korea’s Kospi was down 1.22%, with the Kosdaq plunging 1.68%.
Hong Kong’s Hang Seng index opened 1.75% lower, while the China’s CSI 300 index shed 0.91%.
On Wednesday in the U.S., all three major indexes tumbled, with none of them in positive territory at any point during the session.
The Dow Jones Industrial Average slipping 0.98%, or over 300 points. The S&P 500 slid 1.34%, while the Nasdaq Composite dropped 1.62%.
— CNBC’s Samantha Subin and Alex Harring contributed to this report.