Economy / Markets
Asian stocks and bonds sell off as oil tops $96 and traders price in September rate hikes
Asia-Pacific equities fell sharply on 2 September 2026, with Japan's Nikkei 225 futures down 2.6% and Topix off 2.2%, Australia's S&P/ASX 200 losing 1.1%, Hong Kong's Hang Seng slipping 0.7% and the Shanghai Composite retreating 0.7%. Brent crude rose about 2% to around $96.50 a barrel and is up roughly 60% year to date, while the 10-year US Treasury yield climbed to 4.81%, Australian 10-year yields hit their highest since July 2011 at 5.25%, and traders put the odds of a September rate hike above 50% for five major central banks.