Economic news

Asian shares slide as U.S. Treasury yields touch above 2.97 percent

Asian shares slid on Monday as investors awaited financial results from the world’s largest companies, while yields on 10-year Treasurys approach 3 percent.

Photo: Reuters

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4 percent.

Japan's Nikkei lost 0.3 percent.

Hong Kong’s Hang Seng Index slumped 0.5 percent and the Shanghai Composite Index was down 0.8 percent.

South Korea's Kospi index slid 0.3 percent. Australian stocks advanced 0.3 percent.

Investors were also focused on surveys on global production for April to see if economic weakness in the first quarter was just a fleeting stage linked to bad weather and the Lunar New Year holidays.

Crude prices inched down in early trading but remained near their top since late 2014. The market had fluctuated on Friday when Trump said OPEC was pushing up global prices.

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