Stock Market LIVE: GIFT Nifty down over 100 points; Asia markets mixed on global bond selloff

The GIFT Nifty indicated a sharply lower start for the Nifty50 index due to a selloff in global bonds that dented risk appetite. Asian markets were mixed, with Japanese stocks edging higher after a three-day holiday, while Chinese stocks were also in focus following the extension of the US-China trade truce.

A global bond selloff was triggered by rising oil prices and stronger-than-expected US economic data, which fueled inflation concerns and bets on further interest-rate hikes. The US 10-year Treasury yield surged to 5.11%, with the 10-year yield increasing by 15 basis points in one day. Government bonds in Japan, Australia, and New Zealand retreated, following declines in US Treasuries.

The selloff in bonds led to a decrease in risk appetite, with Asian stocks slipping 0.3%. Brent crude prices held their gains, trading at $102.84 a barrel, while gold traded near a one-week low due to higher interest rates lessening its appeal. According to Business Standard, the GIFT Nifty was down over 100 points.

Brief written by urgent.news from Business Standard IN, Vietnam Investment Review, Hindu BusinessLine, The Economic Times - Top News — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.