Asia stocks off record highs as Wall St. flags, dollar firms on higher yields

TOKYO (Reuters) – Asian stocks retreated from record highs on Tuesday after a selloff in Apple shares knocked Wall Street lower, while the dollar found support as U.S. bond yields climbed to near four-year highs…

Australian stocks shed 0.4 percent, South Korea’s KOSPI lost 0.1 percent and Japan’s Nikkei dropped 0.7 percent.

Hong Kong’s Hang Seng slipped 0.2 percent and Shanghai was down 0.3 percent….

“This is a rise in real interest rates, also reflecting a rise in inflation expectations,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo…

 

Source: https://www.reuters.com/article/us-global-markets/asia-stocks-off-record-highs-as-wall-st-flags-dollar-firms-on-higher-yields-idUSKBN1FJ03A

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