Asian shares track Wall Street's retreat as bond markets crank up the pressure

Asian shares were mostly lower on Wednesday as rising bond yields cranked up pressure on stocks and other investments, undermining the AI-driven rally in technology shares. Bond yields have been climbing as the war with Iran drags on, raising worries over prolonged higher inflation. The yield on the 10-year Japanese government bond slipped to just below 2.8% but remained at its highest level since 1997.