(Seoul=Yonhap Infomax) Kyung Pyo Hong – US equity index futures advanced in Asian trading on the morning of the 21st, while US Treasury yields moved higher.


According to the Yonhap Infomax index futures dashboard (screen no. 6520), as of 09:30 KST, E-mini S&P 500 futures were trading at 6,576.25, up 0.29% from the previous session.

The tech-heavy E-mini Nasdaq 100 futures rose 0.23% to 24,181.00.


Overnight, the New York stock market saw continued risk-off sentiment and a sell-off in technology shares, despite strong earnings from Nvidia Corp., as concerns over an artificial intelligence (AI) bubble persisted.

The Philadelphia Semiconductor Index, which tracks AI and semiconductor-related stocks, plunged 4.77%.


Warnings from senior officials at the US Federal Reserve (Fed) about the risk of sharp declines in financial assets also weighed on equities.

Fed Governor Lisa Cook noted, "Asset valuations across several markets—including equities, corporate bonds, leveraged loans, and housing—are elevated relative to historical benchmarks," adding, "The likelihood of a significant drop in asset prices has increased."


In Asian trading, US equity index futures rebounded on bargain hunting following recent declines.

Some investors view the recent sharp market drop not as a precursor to a deeper crash, but as a normal correction after this year's strong rally.

Ryan Detrick, chief market strategist at Carson Group, said, "The frustration investors have experienced over the past three weeks has led to extreme levels of fear and concern in the market," adding, "From a contrarian perspective, this was a necessary shakeout to flush out weak hands."


US Treasury yields climbed.

According to the Yonhap Infomax overseas rates dashboard (screen no. 6531), the yield on the US 10-year Treasury rose 1.2 basis points to 4.0980%.

The 30-year yield, a long-dated benchmark, was up 0.6 basis points at 4.7300%, while the policy-sensitive 2-year yield gained 2.1 basis points to 3.5560%.


The US dollar index edged lower.

According to the Yonhap Infomax dollar index dashboard (screen no. 6400), the dollar index slipped 0.04% to 100.208.


kphong@yna.co.kr

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