Bond yields are near record lows in Japan and elsewhere, as stock volatility has traders seeking shelter
Asian stocks ended the week on a low note, as commodity prices were hit by a stronger dollar. Japan's Nikkei surrendered 0.4%, with anxiety spiking ahead of next week's Bank of Japan (BoJ) policy meeting. Also, the government's benchmark bond yield touched a record low of negative 0.145%, suggesting investors are rushing to safe-haven investments rather than staying in a volatile stock market.
Elsewhere, South Korea's Kospi dipped 0.3%, amid an investigation into conglomerate Lotte Group. Hong Kong's Hang Seng reopened after a holiday, and promptly fell 1.2%. Meanwhile, markets in China remained closed for the Dragon Boat Festival.
A sharp drop in crude oil prices is hitting European stocks hard, as is uncertainty ahead of a number of key events -- including the U.K.'s
"Brexit" vote later this month. Consequently, bond yields are approaching record lows as investors rush to safety. At last check, London's FTSE 100 is down 1.7%, as Tesco shares dive after the retailer sold its controlling stake in a Turkish grocery business. Rounding things out, France's CAC 40 has plunged 2%, while the German DAX is staring at a 2.3% deficit.
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