Asian shares were mostly lower on Wednesday (May 20) as rising bond yields cranked up pressure on stocks and other investments, undermining the AI-driven rally in technology shares.
Bond yields have been climbing as the war with Iran drags on, raising worries over prolonged higher inflation.
In Japan, the Nikkei 225 lost 1.2% to 59,834.15.
The euro slipped to $1.1601 from $1.1608.
Chinese shares also fell, with Hong Kong’s Hang Seng losing 0.6% to 25,635.82. The Shanghai Composite index shed 0.5% to 4,148.16.
Australia’s S&P/ASX 200 dropped 0.8% to 8,533.60.
In South Korea, the Kospi gained 0.3% to 7,292.41 after a broad sell-off a day earlier. Taiwan’s Taiex gained 0.4%.
-AP