Asia-Pacific stocks slip as 10-year Treasury yield rises

SINGAPORE — Stocks in Asia-Pacific declined in Tuesday morning trade as the 10-year Treasury yield rises.

In Japan, the Nikkei 225 fell 0.32% while the Topix index shed 0.38%.

South Korea's Kospi slipped 0.2%. SK Innovation shares jumped nearly 2% after the firm announced a plan with Ford Motor to invest more than $11 billion in new U.S. facilities to produce electric vehicles and batteries.

The S&P/ASX 200 in Australia dipped 0.28%. Australia's retail sales data for August is set to be out at 9:30 a.m. HK/SIN on Tuesday.

MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.12% lower.

Overnight stateside, the Dow Jones Industrial Average climbed 71.37 points to 34,869.37 while the S&P 500 shed 0.28% to 4,443.11. The Nasdaq Composite dipped 0.52% to 14,969.97.

The mixed moves on Wall Street came as the 10-year Treasury yield briefly crossed 1.5% on Monday, its highest since June. It later retreated from those levels and last sat at 1.4819%. Yields move inversely to prices.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.406 — off levels above 93.4 seen recently.

The Japanese yen traded at 110.94 per dollar following a weakening from below 110.6 against the greenback yesterday. The Australian dollar changed hands at $0.7285 after yesterday's bounce from below $0.726.

Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures slipping 0.18% to $79.39 per barrel. U.S. crude futures were below the flatline, trading at $75.43 per barrel.