Asian Shares Retreat As Bond Yields Spike

Asian stocks ended broadly lower on Wednesday amid concerns about surging oil prices and rising bond yields.

Chip makers and other major technology shares succumbed to heavy selling pressure after a closely tracked U.S. semiconductor index sank 5 percent overnight on signs of rising borrowing costs around the world.

The dollar hovered near multi-year lows, while Treasury yields eased from recent highs ahead of the release of the minutes of the Federal Reserve’s July meeting later in the day.