GLOBAL MARKETS-Asian equities falter in volatile trading as China tech sell-off weighs on

* Asian Stock Markets:

* Threat of US Exclusion Shakes China Tech

* Bargain hunting for growth stocks supports other markets

* Oil falls but the Suez Canal remains a concern

TOKYO / WASHINGTON, March 25 (Reuters) – Asian stocks bounced between gains and losses on Thursday due to a sell off of Chinese tech stocks on concerns that they would be pulled from U.S. stocks and concerns about a semiconductor shortage. shook some investors.

MSCI’s broader Asia-Pacific equity index outside of Japan rose 0.1%.

Hong Kong shares fell sharply at the open, but then cut their losses to a 0.18% drop. Alibaba Group Holding Ltd, Xiaomi Corp and Tencent Holdings all traded lower. Shares in China were up 0.08%.

Elsewhere, Japanese stocks rose 0.71% and Australian stocks rose 0.24% as bargain hunters bought stocks in consumer goods, real estate and financial firms.

US stock futures were up 0.25%.

The US securities regulator is implementing measures that would kick foreign companies off the US stock exchanges if they fail to meet US auditing standards.

Additionally, concerns about extended economic lockdowns in Europe, disruptions in the distribution of coronavirus vaccines, and potential tax increases in the US also weighed on investor sentiment.

“Rising interest rates, uncertainty in fiscal policy and concerns about inflation continue to be a priority for investors. However, none of these topics speak of a growing appetite for risk, ”said Peter Kenny of Kenny’s Commentary LLC and Strategic Board Solutions LLC in Denver.

“We see that the big profits last year are below the market in general.”

On Wall Street, the Dow Jones Industrial Average fell 0.01%, the Nasdaq Composite fell 2.01%, while the S&P 500 lost 0.55% on optimistic comments from the chairman of the Federal Reserve of The US, Jerome Powell, and Treasury Secretary Janet Yellen failed to facilitate profit-taking in the tech sector.

MSCI’s global stock indicator rose 0.07%.

US crude fell 1.45% to $ 60.29 a barrel, and Brent fell 1.21% to $ 63.64 a barrel, returning some of the previous day’s gains after one of the world’s largest container ships The world’s largest companies ran aground in the Suez Canal, blocking a vital transportation route.

Benchmark 10-year US Treasury yields rose to 1.6330% in Asian trade, supported by positive data on the US manufacturing sector.

Investors have focused on the 10-year Treasury yield, pondering whether there is room for long-term interest rates to run, said David Kelly, chief global strategist at JPMorgan Asset Management.

“We know the economy is poised to start really picking up speed in the second quarter,” Kelly said. “But we haven’t seen that acceleration yet, so that’s what we’re waiting for.”

The dollar hit a fresh four-month high of $ 1.1804 per euro on Thursday as prolonged lockdowns and concerns about the pace of vaccines in Europe hampered the common currency.

Even Germany’s reversal of a call for a strict lockdown during the Easter period could not help the euro.

Reporting by Stanley White and Katanga Johnson; Editing by Richard Chang and Richard Pullin


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