Asia stocks fall despite Wall Street records as rising oil, yields weigh Ayushman Ojha Tue, October 6, 2026 at 11:41 PM EDT 3 min read SKHY -6.39% ^GSPC +0.58% CL=F +0.84% 005930.KS -0.09% Investing.com-- Asian stock markets fell on Wednesday, failing to join an overnight rally on Wall Street that took the S&P 500 and Nasdaq to record highs, as elevated bond yields and renewed gains in oil prices kept investors cautious.
Before you buy NVIDIA: our AI model's stock picks are beating the market by 120%+. See the list now »
The subdued Asian performance came even as U.S. stocks climbed overnight, with the S&P 500 and Nasdaq setting record closing highs. The rally was led by technology and artificial-intelligence stocks.
U.S. stock index futures traded largely unchanged as of 02:55 GMT.
Japan's Nikkei 225 fell nearly 1%, while the broader TOPIX index edged 0.5% lower.
South Korea's KOSPI declined 1.2%, with heavyweight chipmaker SK Hynix (KS:000660) falling more than 2%. Samsung Electronics (KS:005930) shares dipped 0.6%.
Investors are cautiously awaiting Samsung and SK Hynix's quarterly results later in October, against very high expectations.
Hong Kong's Hang Seng slipped 0.8%, with the Hang Seng TECH sub-index dropping 1.3%.
Mainland Chinese markets remained closed for the National Day holiday, with trading due to resume on Thursday.
Investors remained wary of the bond market. The U.S. 10-year Treasury yield remained around 5.3% on Wednesday, while the 30-year yield was above 5.6%, keeping longer-term borrowing costs close to multiyear highs.
Not finding the right stocks? Our AI's list of investor-grade stock picks for October just dropped »
Higher yields can reduce the appeal of equities, particularly in emerging markets, while increasing the discount rate applied to future corporate earnings.
Oil prices added to the pressure. Brent crude rose above $101 a barrel and U.S. West Texas Intermediate approached $90 as attacks by Iran-backed Houthi forces in Saudi Arabia heightened concerns about Middle East supplies.
The rise in crude prices revived concerns that higher energy costs could prolong inflation and constrain central banks' ability to ease monetary policy.
Elsewhere, Australia's S&P/ASX 200 traded flat, while Singapore's Straits Times Index traded flat.
Investors awaited the Reserve Bank of India's policy decision later on Wednesday, with the central bank widely expected to raise its repo rate by 25 basis points to 5.50%.
The RBI has kept the rate at 5.25% for four consecutive meetings after cutting it by 125 basis points in 2025. Rising oil prices, a weaker rupee and higher global bond yields have intensified inflation risks, with Governor Sanjay Malhotra's comments on the outlook and the policy stance likely to be closely watched.
Investors were also awaiting the minutes of the Federal Reserve's September meeting later on Wednesday, along with speeches from several policymakers.
Markets have sharply reduced expectations for an October rate hike, with the probability of a 25-basis-point increase now around 20%, although an increase in December remains heavily priced.
Investors' focus was increasingly shifting to whether strong corporate earnings can offset the drag from higher energy prices and elevated global borrowing costs.
Asia stocks fall despite Wall Street records as rising oil, yields weigh
U.S. stock futures steady after tech rally lifts S&P 500, Nasdaq to records
LG Electronics shares drop as Q3 prelim earnings miss estimates
