意大利10年期國債收益率上升至4.097%，爲3月以來最高水平。

US equity futures slipped as rising bond yields and a spike in oil unsettled investors. Nasdaq 100 futures were down about 0.7% intraday, S&P 500 futures fell 0.4%. Growth names were sold amid concern over the long end of the Treasury market, while Brent crude extended Monday's gains. Stocks had rallied earlier this month on renewed AI optimism and lower Fed rate-hike expectations but have since retraced. A BofA fund manager survey showed global equity allocations at their highest since Nov 2021, with 56% of respondents overweight stocks. Nasdaq 100 has largely recovered last month's pullback and the S&P 500 is near record highs. Florian Ielpo, head of macro at Swiss Longao Asset Management, said: "The hurdle rate for investment returns has risen again. This time it is a function of oil, fiscal supply and the term premium, not a renewed acceleration in short-rate expectations."

A-shares closed mixed: Shanghai Composite +0.19%, Shenzhen Composite -0.56%, ChiNext -0.92%, Beijing Stock Exchange 50 Index +2.67%. Turnover across Shanghai and Shenzhen was 2.4 trillion yuan, about 13.3 billion yuan higher than the previous session. More than 3,200 stocks fell. Grain/agriculture names led gains, with multiple seed and agricultural stocks — including Qiule Seed, Shennong Seed, Da Bei Nong, Dunhuang Seed, Nongfa Seed, Jingliang Holdings and Longping Hi-Tech — hitting daily limit-ups. Pork names were active: Luoniushan posted a second straight limit-up and Tianbang Food hit the limit. Domestic OS/software plays jumped in the afternoon, with Chengmai Technology, Qilin Xinan and ChinaSoft among limit-ups. Dairy, fertilizer, combustible-ice and glass-substrate sectors outperformed. Kuaishou-related names led declines; Shengyang, Ruijie Networks and Zhongguang Tianze fell more than 7%. Compute-rental stocks underperformed, with Hongbo, Xingyun Technology and Xinkai Xinneng lower; cloud gaming, futures, CRO and Zhipu AI concepts also lagged. The most expensive A-share IPO of the year surged 516.44% on its debut, closing at 1,152 yuan/share.