The Asia-Pacific Market Fell as US Treasury Yields Surged

On Wednesday, shares in the Asia-Pacific market skidded as concerns about economic uncertainty pushed the US Treasury Yields to a three-month high of 1.53%. 

In China, the Shanghai Composite index shed 1.79% or 64.62 points to $3,537.60 per share.

ERDOS Resources Co., which is engaged in the production of cashmere apparel, sharply plunged 10.01% or 0.60 points to $5.38 per share. 

Then, Guangzhou Development Group Inc., a natural gas distribution firm, lost 9.90% or 0.14 points to $1.33 per share. 

Consequently, the benchmark Shenzhen Component plummeted 1.41% or 202.17 points to $14,111.65 per share. 

At the bottom of the index, Wujiang Silk A Co. slipped 9.99% or 0.45 points to $1.54 per share.

In addition, the investment company Hithink RoyalFlush curtailed 8.44% or 11.01 points to $15.36 per share. 

In Hong Kong, the Hang Seng index weakened 0.45% or 110.61 points to $24,389.78 per share.

Accordingly, tech giants posted declines in the Asia-Pacific market

For instance, Meituan lowered 3.42% or 1.10 points to $31.25 per share.

Similarly, Tencent pared down 2.72% or 1.64 points to $58.71 per share.

Accordingly, Alibaba diminished 2.52% or 0.49 points to $18.90 per share. 

Elsewhere, South Korea’s KOSPI decreased 1.71% or 53.08 points to $3,044.84 per share.

In India, the BSE SENSEX index slashed 0.82% or 488.77 points to $59,165.14 per share.

Following the plunge, the NIFTY 50 index lost 0.68% or 121.10 points to $17,628.00 per share.

Meanwhile, Australia’s S&P/ASX 200 index reduced by 0.01% or 67.60 points to $7,208.00 per share. 

Japanese Market Slumped as the Asia-Pacific Fell

Furthermore, stocks in the Japanese market slumped as the Asia-Pacific skidded.

The benchmark Nikkei 225 dwindled 2.65% or 800.25 points to $29,383.71. 

Then, Advantest Corp. shed 5.82% or 5.65 points to $91.38 per share. 

Also, Casio Computer Co. narrowed 4.96% or 0.87 points to $16.68 per share.

Moreover, Hitachi Ltd. waned 4.90% or 3.05 points to $59.13 per share. 

Consequently, the broader TOPIX index slashed 2.52% or 52.45 points to $2,029.32 per share. 

Whereas, Himaraya Co Ltd decreased 11.12% or 1.47 points to $11.68 per share. 

At the same time, Capital Asset Planning Inc. declined 7.96% or 0.78 points to $9.02 per share.

Accordingly, MSCI’s broadest index of Asia-Pacific shares outside Japan minimized 0.60% to 1.21 points to $199.71 per share.