China Stocks Fall on Worries about N.Korea, Rising Bond Yields
China stocks edged lower on Wednesday, as renewed worries over North Korea and surging U.S. bond yields dampened sentiment in Asian markets, while investors await news from a second round of U.S.-China trade talks in Washington this week.
The blue-chip CSI300 index fell 0.8 percent, to 3,892.84, while the Shanghai Composite Index lost 0.7 percent to 3,169.57 points.
Pyongyang abruptly called off talks with Seoul, throwing a U.S.-North Korean summit into doubt. The cancellation could see tensions on the Korean peninsula flare again even as investors worry about China-U.S. trade talks and the sustainability of global economic growth. Meanwhile, strong U.S. retail sales and factory data on Tuesday pushed the U.S. 10-year yield through a key level to hit 3.095 percent, its highest since July 2011, raising worries about higher borrowing costs for companies worldwide.
Source : Reuters