Asia Pacific stocks had a mixed start to the week as geopolitical tensions eased and US Treasury yields hovered at a four-year high.

Selling of shares in chipmakers and other Apple-linked companies continued at a slower pace in early Asia trading on Monday after tech stocks took a hit late last week on fears of weakening iPhone sales. 

Growth in Japan’s manufacturing sector picked up in April, snapping two months of decline as output increased and business confidence strengthened, according to a preliminary industry gauge. 

HNA has once again cut its stake in Deutsche Bank, this time to 7.9 per cent despite previous assertions that it had no plans to further divest from Germany’s largest lender.

A Financial Times analysis of how the US tax overhaul has affected the accounts of the US’s 100 largest listed companies shows 61 of the top 100 quoted companies have reported an initial net income tax expense, amounting to a combined $168bn.

Walmart has nominated Steve Easterbrook, the chief executive of McDonald’s, to its board.

Updates on the health of the American economy and main street alongside a much-anticipated meeting between North and South Korean leaders are set to grab market and reader attention next week.

The sell-off in US Treasuries accelerated on Friday after upbeat commentary from Federal Reserve officials pushed benchmark yields to their highest level in more than four years and towards the 3 per cent mark.

The US Treasury sell-off picked up steam on Friday afternoon, with yield on the 10-year note reaching its highest level since early 2014.

For those puzzling over the recent decline in Vix levels Goldman Sachs cautions that the US midterm elections in November present another source of policy risk and volatility.

No relief for the Mexican peso.

Hammerson was in demand on news that activist hedge fund Elliott Advisors had taken a 1.5 per cent stake, which heaped pressure on the management of the shopping centre developer after its decision to scrap a merger with Intu Properties.

Crash and carry.

Old Mutual, the Anglo-South African financial services group, has unveiled the final details of its four-way split.

Shares of Pivotal Software rose in their market debut on Friday, giving the company a fully diluted valuation of about $4.5bn.

The Democratic National Committee has filed a lawsuit against Russia, the Trump campaign and WikiLeaks claiming they engaged in a conspiracy to elect Donald Trump.

A 3.5 per cent drop in Apple’s share price weighed on its technology sector peers this morning and dragged Wall Street lower.

Ion Investment Group has agreed to buy UK rival Fidessa in a deal worth £1.5bn, with the British trading technology group accepting a higher offer and switching its recommendation from a bid by Switzerland’s Temenos.

Japanese pharmaceutical group Takeda sweetened its offer for rival Shire by roughly £455m on Friday and shifted a significant portion of its proposal from stock to cash in a bid to win over the board of the Irish drugmaker.

Norwegian aluminium producer Norsk Hydro said it has notified Russia’s Rusal that it may have to declare force majeure on its contracts with the company due to US sanctions.

Wells Fargo has agreed to pay a penalty of $1bn to settle allegations from US regulators over compliance failings, including mis-sold car insurance and mortgage fees.

Nissan will lay off hundreds of workers from its Sunderland car plant after a collapse in diesel sales led to a fall in the facility’s output.

The European Investment Bank is planning to launch its first sustainability bond, in a bid to expand the rapidly-growing market for green finance into other types of activities.

Canadian inflation continued its upward march last month, hitting its highest level in more than three years. However the rise was less than expected and could bolster policymakers’ case for taking a cautious approach to future rate rises.