Economic news

Asian shares mixed as yields on Treasuries retreat

Asian stocks traded mixed on Wednesday after global shares touched eight-week trough in the previous session on concerns over state of global economy.

Photo: Reuters

MSCI's broadest index of Asia-Pacific shares was steady, while Japan's Nikkei average dropped 0.4 percent and the Australian stocks added 0.1 percent.

China's Shanghai Composite slipped 0.2 percent, while Hong Kong's Hang Seng rose 0.3 percent.

Wall Street closed mixed overnight, with the Dow Jones Industrial Average sliding 0.21 percent while the S&P 500 and the Nasdaq Composite virtually stable.

The yield on the 10-year benchmark reached a 7-1/2-year high of 3.261 percent and those on 30-year bonds touched their top in more than four years.

Italy's government bond yields also dropped from multi-year peak after Economy Minister Giovanni Tria promised to prevent a financial crisis.

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