Asian stocks set for biggest monthly drop since 2008; US yields hit new low

Asian markets fell more than 1% in some regions overnight, with the wider area set for its biggest monthly drop since the financial crisis of 2008.

Meanwhile, US 10-year Treasury bond yields hit a new record low of 1.62% as investors flocked to safe havens. The MSCI Asia Pacific index fell 1% and is set for a monthly loss of 11%, according to Bloomberg, while the Nikkei fell 1.34%, shedding 115.655 points, to 8,517.54. Japan's factory output was weaker than expected in April due to slowing demand for electronic goods, particularly in China, the BBC reported. The Trade and Industry Ministry also forecast output to fall in May. The Shanghai and Hang Seng indices also fell 0.11% and 0.70% respectively, following larger losses in ...