The sell off in Asia-Pac stocks resumes,.....>

STOCKS: The sell off in Asia-Pac stocks resumes, the indices a sea of red.

Stocks took a negative lead from the US, extra pressure to the move down is

exerted by higher US yields which briefly touched 2.88% in the 10-Year sector

yesterday. The S&P 500 has now erased gains for 2018 and is in correction

territory.

- In Japan the Nikkei 225 is down 705 points at 21,185, after gapping lower at

the open the index briefly bounced on some yen weakness, before dropping back to

session lows. The Topix is down 50 points and is on track for the worst week

since early 2016. MNI sources note that the move likely still has further to run

as low volatility positions unwind.

- China shares are being hit hardest today, the Shanghai Comp is down 139 points

at 3,122.78 while the Hang Seng is down 1,145 points at 29,306. Offshore China

stocks (H Shares) fell over 5% and are down around 14% for the week, the worst

performance for 10 years. In Australia the ASX200 is down 60 points at 5,830

pressured by weaker oil and metals in risk off trade. In the US equity futures

have bounced around, last in minor negative territory.