In Hong Kong, the benchmark Hang Seng Index opened down 151 points, or 0.59 percent, at 25,415.
The China enterprises index fell 53 points, or 0.63 percent, to 8,459 while the tech index lost 28 points, or 0.62 percent, to open at 4,591.
Across the border, the Shanghai Composite Index edged down six points, or 0.16 percent, to open at 3,979.
The Shenzhen Component Index inched up two points, or 0.02 percent, to 14,017 while the ChiNext Index dipped three points, or 0.1 percent, to 3,435.
In Tokyo, the Nikkei trimmed its losses to 121 points at one stage before lunch after opening down 426 points, or 0.64 percent, at 65,885.
In Seoul, the Kospi opened 35 points, or 0.52 percent, lower at 6,784 before regaining some ground to be 13 points down at one stage before noon.
The 10-year US Treasury yield, a benchmark for prices across asset classes, rose 2.2 basis points to a near 20-month top of 4.78 percent. Japan’s 10-year benchmark was closing in on 3 percent, a level not seen for a generation.
Higher oil prices and rising US-Iran tension are stoking worries about inflation, which is negative for bonds, just as Federal Reserve chairman Kevin Warsh has reset expectations for the outlook. In a speech late last week, he signalled policymakers could move if price pressures fail to show signs of easing.
“The macro mix is turning more challenging for duration and risk assets,” said Wee Khoon Chong, APAC Macro Strategist at BNY.
“Hawkish monetary policy, renewed geopolitical and inflation risks, and rising fiscal concerns are converging to maintain the upward pressure on global term premiums and long-end yields.” (Reuters & Xinhua)
