Asia stocks slip as high Bond yields weigh on Equities

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Australian stocks shed 0.4 percent, South Korea’s KOSPI lost 0.3 percent and Japan’s Nikkei dropped 0.3 percent.

Asia stocks eased on Wednesday, pulling further back from record highs, as the recent rise in global bond yields weighed on equities.

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MSCI’s broadest index of Asia-Pacific shares outside Japan added to the previous day’s losses and dipped 0.1 percent, after reaching a record high on Monday.

Australian stocks shed 0.4 percent, South Korea’s KOSPI lost 0.3 percent and Japan’s Nikkei dropped 0.3 percent.

Wall Street, which has recently hit a succession of record peaks, has led a global equities rally over the past year thanks to strong world growth fuelling higher corporate earnings and stock valuations.

But the recent surge in US long-term bond yields to near four-year highs have poured cold water on the rally.

US stocks fell for a second straight day on Tuesday, with the Dow registering its biggest two-day drop since September 2016, pressured by healthcare stocks and rising bond yields.


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