Stock market: Asia weak with technology, oil weighs on bonds

Asian stock markets in decline with technology stocks unable to sustain the rally that yesterday pushed Wall Street to new historic highs on the Asian continent, while the rise in oil prices, in the wake of the growing number of attacks on oil tankers recorded in the Strait of Hormuz in recent days, weighs on bonds.

Tokyo lost 0.5%, Seoul 1.8%, Sydney 0.1%, Shenzhen 0.3% while Shanghai advanced 0.3%. Futures on the Euro Stoxx 50 are down 0.6% while those on Wall Street are little moved, with investors trusting in the ability of 'corporate America' to increase quarterly profits despite the context of rising rates and inflation. Ten-year Treasury yields are up three basis points, to 5.31%, while Brent advances by 0.6% to 101.2 dollars a barrel and WTI by 0.5% to 89.9 dollars.

Data from the IEA, the International Energy Agency, on oil stocks are expected in the afternoon, while in the evening the Fed minutes will offer new insights on the positions on rates and inflation recorded at the September meeting.