Stock market today: Asian markets sink, with Hong Kong down almost 3% on selling of property stocks

BANGKOK — Asian markets declined Tuesday following a mixed session on Wall Street, where buying was pressured by rising bond yields.was up nearly 16%, resuming trading after its shares were suspended last week as the troubled real estate developer announced that its chairman was under investigation. Earlier in the session it's shares soared more than 60%.

Prices have pulled back after charging higher from $70 in the summer. A barrel of U.S. crude fell $1.97 on Monday to settle at $88.82. Stocks that pay high dividends with relatively steady businesses are squeezed because investors are more likely to switch between stocks and bonds. That puts a harsh spotlight on utility companies. PG&E dropped 5.6%, and Dominion Energy sank 5.3% for some of the sharpest losses in the S&P 500.

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