Japan’s Nikkei Closed 4% Lower on Concerns Over Rising Bond Yields

Shares in the Asia-Pacific region suffered sharp losses in trading on Friday, after the decline in Wall Street in yesterday’s session, as the rapid rise in bond yields raised investor concerns.

In Japan, the Nikkei225 index led the losses among the major markets in the region as it fell by 4% to close at 28966.01 points, while the Topix index fell by 3.21% to close the session at 1864.49 points.

Hong Kong’s Hang Seng Index also lost 2.9% during the session. Shares also fell on the Chinese mainland, with the Shanghai Composite dropping 1.62%.