SYDNEY: Asian shares slipped on Thursday as strains in sovereign bond markets were aggravated by reports some major tech companies were seeking to raise billions in debt in direct competition for limited funding.
A fresh rise in oil prices added to the pressure on Treasuries, though a strong auction of US 10-year debt overnight did help pull yields off 24-year peaks.
While lofty yields underpinned the dollar, the euro slid to near 17-month lows as concerns over France's finances spread to Italian and Greek debt.
The steady climb in borrowing costs put equities on the defensive and Japan's Nikkei eased 0.9%, with South Korea down 0.6%. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1%.
