* Asian stock markets: tmsnrt.rs/2zpUAr4
* Threat to withdraw from the US list shakes China’s technology
* Bargain hunting for growth stocks supports other markets
* Oil falls, but the Suez Canal remains a concern
TOKYO / WASHINGTON, March 25 (Reuters) – Asian stocks jumped between gains and losses on Thursday with a sale of Chinese technology stocks due to concerns that they would be pulled out of American stock exchanges and concerns about semiconductor shortages have shaken some investors.
The broader MSCI index for Asia Pacific stocks outside Japan rose 0.1%.
Hong Kong shares fell sharply at the opening, but later reduced their losses to a 0.18% drop. Alibaba Group Holding Ltd, Xiaomi Corp and Tencent Holdings traded lower. China’s shares were up 0.08%.
Elsewhere, Japanese stocks rose 0.71% and Australian stocks rose 0.24%, with bargain hunters buying shares in consumer, real estate and financial companies.
US stock futures were up 0.25%.
The U.S. securities regulator is implementing measures that would expel foreign companies from US stock exchanges if they did not meet US audit standards and required them to disclose any government affiliations, which is widely expected for Chinese companies.
In addition, concerns about prolonged economic blockages in Europe, interruptions in the distribution of coronavirus vaccines and potential tax increases in the US also weighed on investor sentiment.
“The increase in interest rates, the uncertainty of tax policy and the concern with inflation remain the main concerns of investors. However, none of these topics talk about increasing risk appetite, ”said Peter Kenny, of Kenny’s Commentary LLC and Strategic Board Solutions LLC, in Denver.
“We are seeing the big gains of last year being below the performance of the market in general.”
On Wall Street, the Dow Jones Industrial Average fell 0.01%, the Nasdaq Composite fell 2.01%, while the S&P 500 lost 0.55%, as optimistic comments from Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen failed to facilitate profit making in the technology sector.
The stock indicator for MSCI worldwide rose 0.07%.
US crude oil fell 1.45% to $ 60.29 a barrel, and Brent fell 1.21% to $ 63.64 a barrel, returning some of the previous day’s gains after one of the largest container ships of the world stranded on the Suez Canal, blocking a vital navigation route.
The benchmark 10-year US Treasury yields rose to 1.6330% in Asian trade, supported by positive data on the US manufacturing sector.
Investors focused on the 10-year Treasury yield, pondering whether there is room for long-term interest rates, said David Kelly, chief global strategist at JPMorgan Asset Management.
“We know that the economy is set to start accelerating really in the second quarter,” said Kelly. “But we haven’t seen that acceleration yet, so that’s what we’re hoping for.”
The dollar hit a new record high of $ 1.1804 per euro in four months on Thursday, with the extension of blockages and concerns about the pace of vaccinations across Europe hurting the single currency.
Even Germany’s reversal of a strict blockade request over the Easter period has not been able to help the euro.
Stanley White and Katanga Johnson reporting; Editing by Richard Chang and Richard Pullin