Asian Market Update : Epic Research Malaysia

Equity markets in Asia slipped early on Wednesday as a widespread spike in debt yields dented the allure of risky assets, while the euro stood tall after surging on upbeat euro zone inflation data and hopes that Greece will reach a deal with its creditors.

Japan's Nikkei lost 0.6 percent while Australian shares shed 0.5 percent and South Korea's Kospi dipped 0.1 percent.

MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.1 percent.
US Treasury yields spiked to two-week highs overnight after German Bond yields soared on stronger-than-expected euro zone inflation data. Consumer prices rose 0.3 percent year-on-year in May, beating forecasts for a 0.2 percent increase.

Higher bond yields tend to dent the attraction of stock investments relative to bonds as seen last month during a global rout in debt markets.

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