Good morning Asia! A sea of red for US stock market overnight. Even the outperforming cyclical/value stocks were not spared as traders took on a “sell everything” mindset due to a strong up move in long dated US Treasury yields.. Despite Fed Powell “assurance” that tapering of bond buying is likely not happening in the near to mid term.
Scorecard:
SP 500 $SPX -2.45%(3829)
Nasdaq 100 $NDX -3.56%(12828)
Dow Jones $INDU -1.75%(31402)
Russell 2000 $RUT -3.69%(2200)

Expected positive following through seen in the major US stock indices after its prior day of bullish reversal with cyclical/value plays continue to extend their outperformance that pushed the Dow Jones Industrial Average to fresh ATH (less weightage in tech stocks) Scorecard:
SP 500 $SPX +1.14%(3925)
Nasdaq 100 $NDX +0.81%(13302)
Dow Jones $INDU +1.35%(31961)
Russell 2000 $RUT +2.38%(2284)

The worse hit $NDX has managed to reverse its initial loss of close to -1.69% when the 10 year US Treasury yield breached above 1.38% major resistance

Hong Kong Exchanges & Clearing Ltd (HKEX) plunges the most by -9.3% since 2015 after a deleted news report that stamp duty on stock trades would be rise for the first time since 1993 to 0.13% to 0.1%. This increased in HK stock trades stamp duty rumour has also dragged down the intraday performances of HK benchmark indices:
Hang Seng Index $HSI -1.9%(30045)
Hang Seng TECH Index $HSTECH -3.6%(9505)

Good morning Asia! Interesting movements were seen in the US session overnight as major US stock indices trimmed earlier losses. The S&P 500 halted its 5 day of losing streak & ended up +0.1% at the close after intraday -1.2%. The worst hit big tech heavy Nasdaq 100 recorded intraday -3.5% breached below 13190/100 key MT pivotal support (12758 low) before it reversed back up to close at 13194. Medium term uptrend intact as dip buyers came in to support