In Hong Kong, the benchmark Hang Seng Index lost 48.91 points, or 0.19 percent, to open at 25,280.
Across the border, the benchmark Shanghai Composite Index slipped 0.42 percent to open at 3,963.
The Shenzhen Component Index opened 1.01 percent lower at 13,732.
MSCI’s broadest index of Asia-Pacific shares outside Japan tumbled 1.5 percent as South Korea’s KOSPI dropped more than three percent, while the Nikkei 225 was down 2.6 percent.
S&P 500 e-mini futures were down 0.1 percent.
Brent crude futures extended gains into a second day as trading resumed in Asia, rising 1.3 percent to US$95.91 a barrel after the United States launched a barrage of airstrikes on Iran on Tuesday, which earlier pushed oil prices to a five-week high.
“The threat of further disruptions to the Strait of Hormuz has brought about renewed anxiety over inflation, driving a selloff in stocks across most major markets and a rout in global bond markets,” Westpac analysts wrote.
The yield on the US 10-year Treasury bond hit an intraday high of 4.8122 percent, its highest level in almost three years, while the yield on the five-year Japanese government bond rose to 2.295 percent, its highest level on record.
“September kicked off on a shaky note as developed market government bonds continued to sell off,” DBS analysts wrote.
“Brace for a volatile month ahead as high yields cause angst across the asset classes,” they added. “If the bond rout does not get stemmed, policymakers would probably have to resort to more aggressive measures to cap yields.” (Reuters/Xinhua)
