Asian stock markets fall due to oil prices and US yields

Second consecutive day of decline on Asian stock markets with renewed pressure exerted by high oil prices and US bond yields.

The MSCI Asia Pacific index lost as much as 0.7%, with Chinese (-1.07%) and Australian (-0.72%) stocks among the region's worst performers. Japanese stocks rose as markets reopened after a three-day holiday but the Topix lost 0.39 percent at the end of the session. South Korea remained closed for holidays.

The gains of the week are thus rapidly dissolving, with the stock markets also in Europe destined to follow Wall Street downwards. Inflation fears are shaking markets as there is a growing belief that interest rates will have to continue rising, especially given that the economy is still solid.

Euro Stoxx 50 futures fell 0.4%. Analysts are putting automotive stocks in the spotlight, following data on new car registrations in Europe in August.