All the Asian equity benchmarks are trading lower in the early deals on Tuesday, following the overnight sell-off on Wall Street amid concerns about rising bond yields and potentially higher interest rates. The benchmark S&P 500 as well as the Dow Jones Industrial Average suffered their biggest percentage drops since 2011 and erased all of their gains for 2018. Japan’s Nikkei share average tumbled 5 percent to hit a near four-month low after Wall Street posted its worst decline in four years on fears about rising US bond yields and potentially rising inflation. Meanwhile, Hong Kong stocks heading for their worst day in nearly three years as a sharp sell-off on Wall Street carried over into Asia.
Nikkei 225 dipped 1476.35 points or 6.51% to 21,205.73, Hang Seng crumbled 1593.91 points or 4.94% to 30,651.31, Taiwan Weighted contracted 633.42 points or 5.79% to 10,312.83, Jakarta Composite declined 140.48 points or 2.13% to 6,449.20, Shanghai Composite dropped 74.95 points or 2.15% to 3,412.55, KOSPI Index decreased 62.22 points or 2.5% to 2,429.53, Straits Times slipped 125.00 points or 3.59% to 3,357.93 and FTSE Bursa Malaysia KLCI was down by 48.68 points or 2.63% to 1,804.39.
