Asian Stocks Slide Amid Bond Market Woes, Fed Watchers Eye Jackson Hole

Asian stock markets were mostly lower on Monday as investors continued to grapple with rising bond yields and uncertainty about inflation. The Nikkei 225 in Tokyo fell 0.5% to 65,678.45, while South Korea's Kospi lost 3.5% to 6,664.36.

The Hang Seng index in Hong Kong declined 2.1% to 25,465.23 and the Shanghai Composite gave up 0.7% to 3,877.30. However, Australia's S&P/ASX 200 bucked the trend by gaining 0.5% to 9,107.40.

The bond market has been under pressure due to rising yields, with the 10-year Treasury yield reaching its highest point in over a year at 4.73%. This has sparked concerns about higher borrowing costs and its impact on consumer spending.

Investors will be watching for signals from Federal Reserve Governor Kevin Warsh regarding interest rates and policies in his upcoming speech at the Jackson Hole economic conference.