Asian Stocks Fall as Tech Shares Dragged Down by Rising Yields Ahead of Powell Speech

Asian stocks fell broadly on Thursday, dragged by big losses in technology shares as rising bond yields hit the sector.

Markets were cautious ahead of a speech by Federal Reserve Chair Jerome Powell, which could offer clues on interest rate policy.

Stocks in Hong Kong underperformed sharply, with electric vehicle makers sliding as Tesla shares dropped.

There were concerns over defaults in China's property sector after Country Garden apparently missed an offshore bond payment.

Japanese shares were pressured by a former central bank official saying the Bank of Japan could end negative interest rates as soon as this year.