Asian benchmark stock index headed for the lowest closing level in six weeks as investors sold riskier assets across the region and emerging markets as U.S. 10-year Treasury yields touched a two-year high.

Nikkei 225 13,396.38 -361.75 -2.63 %

Hang Seng 21,955.68 -508.02 -2.26 %

S&P/ASX 200 5,078.18 -34.35 -0.67 %

Shanghai Composite 2,072.59 -13.01 -0.62 %

QBE Insurance Group Ltd.sank 5.5 percent as first-half net income at Australia’s largest insurer by market value plunged 37 percent.

BHP Billiton Ltd. dropped 1.4 percent in Sydney before the world’s biggest mining company reported profit that missed analyst estimates.

Everbright Securities Co.  slumped 10 percent in Shanghai as trading resumed after a trading error at the Chinese brokerage whipsawed stocks last week.