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Asian markets extend losses as Gaza bombardment continues
Asian markets extended losses on Monday as higher bond yields and the escalating bombardment of Gaza dampened investor sentiment. Stocks fell across the board from Japan and Korea to Australia, with China's CSI-300 falling to its lowest since 2019. US 10-year Treasury yields hovered around a 16-year high of 5 percent, pushing borrowing costs up across the globe and testing equity valuations. Oil prices eased on the commodities front, with global benchmark Brent falling to 91 dollars a barrel, while gold retreated from five-month highs.
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