Asia-Pacific markets are expected to open lower on Wednesday, following losses on Wall Street driven by rising Treasury yields and declines in major tech stocks.
Asia-Pacific markets were set to open lower Wednesday, tracking losses on Wall Street after Treasury yields rose and major tech stocks declined. Japan's Nikkei 225 futures pointed to a lower open for the market, giving back gains after a rally in tech stocksAsia on Tuesday. The futures contract in Chicago was at 39,905 while the futures contract in Osaka last traded at 39,730, compared to the index's previous close of 40,083.3.
Hong Kong's Hang Seng index futures last traded at 19,447, pointing to a flat open as the HSI's last closed at 19,447.58. Major U.S. indexes end lower on TuesdayFour ETFs in Europe and North America have beaten the S&P 500 over the past five consecutive years, according to a CNBC Pro screen. The U.S. benchmark rose by 23.3% in 2024 and 24.2% the previous year, making it particularly challenging for funds to outperform. Despite expensive valuations, UBS continues to view U.S. equities and artificial intelligence-exposed parts of the market as attractive. The firm predicts earnings growth to drive another year of'concentrated returns,' continuing 2024's 'Mag 7' leadership. 'U.S. equity valuations are higher than average, but historically valuations have had very little correlation with returns over the next 12 months. Instead, profit growth matters more,' David Lefkowitz, CIO head of US equities for UBS, wrote in a Monday note to clients.'We think the bull market remains intact driven by solid economic and corporate profit growth.'earnings per share growth of 9% this year, remaining bullish on stocks overall even as the firm expects periods of volatility in the year ahead.Howard Marks sees cautionary signs of a bubble in the stock marke
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