Asian stocks dip, bonds in focus after torrid September

Business Recorder reported that Asian shares were subdued on Thursday while global bonds stayed under pressure following a sharp September sell-off. Investors were weighing a smaller-than-anticipated increase in US inflation for August, which reduced the odds of another Federal Reserve rate hike this month. Earnings from AI chipmaker Micron, described as blockbuster, did little to lift regional sentiment.

Stalled peace talks between the United States and Iran, aimed at ending a seven-month war in the Middle East, kept oil prices elevated. Brent crude was quoted at $98.15 a barrel after rising more than 14 per cent in September, its third straight monthly gain. In equities, MSCI's Asia-Pacific index excluding Japan slipped 0.2 per cent, while Japan's Nikkei added over 1 per cent on gains in chip-related shares.

Yields on US Treasuries rose in September as bond prices fell, with the 10-year note reaching 5.306 per cent, its highest since mid-June 2007. The 30-year bond yield stood at 5.634 per cent, after touching 5.6517 per cent in the prior session. Nomura's Darren Shames said the speed of the rate move is drawing more attention from investors than whether yields cross 5 per cent.