GLOBAL MARKETS-Asian stocks trip on China tech woes, some cyclical shares bought

* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* U.S. de-listing threat rattles China tech
* Bargain-hunting for growth shares supports other markets
* Oil falls but Suez Canal remains a concern

By Stanley White and Katanga Johnson
TOKYO/WASHINGTON, March 25 (Reuters) - Asian equities
bounced between gains and losses on Thursday as a selloff in
Chinese technology shares due to concerns they will be de-listed
from U.S. bourses and worries about a semiconductor shortage
rattled some investors.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS fell 0.07%. The index is close to wiping out all
the gains it has posted so far this year.
Hong Kong shares .HSI fell sharply at the open but then
erased losses to trade up 0.16%. Alibaba Group Holding Ltd
9988.HK , Xiaomi Corp 1810.HK , and Tencent Holdings Ltd
0700.HK all traded lower. Shares in China .CSI300 rose
0.28%.
Elsewhere, Japanese stocks .N225 rose 1.33% and Australian
shares .AXJO rose 0.17% as bargain hunters bought shares of
consumer goods, real estate and financial firms.
U.S. stock futures EScv1 rose 0.28%. Euro Stoxx 50 futures
STXEc1 were down 0.21%, German DAX futures FDXc1 were down
0.1%, and FTSE futures FFIc1 were down 0.07%.
The U.S. securities regulator is introducing measures that
would kick foreign companies off U.S. stock exchanges if they do
not comply with U.S. auditing standards, and require them to
disclose any government affiliations - measures widely expected
to hit Chinese companies. In addition, concerns about extended economic lockdowns in
Europe, disruptions to the distribution of coronavirus
vaccinations and potential U.S. tax hikes also weighed on
investor sentiment.
"Rising interest rates, uncertainty of tax policy, concern
over inflation all remain top of mind for investors. However,
none of these themes speak to rising appetite for risk," said
Peter Kenny of Kenny's Commentary LLC and Strategic Board
Solutions LLC in Denver.
"We are seeing last year's big gains underperform the
broader market."
On Wall Street, the Dow Jones Industrial Average .DJI fell
0.01%, the Nasdaq Composite .IXIC dropped 2.01%, while the S&P
500 .SPX lost 0.55% as optimistic comments by U.S. Federal
Reserve Chairman Jerome Powell and Treasury Secretary Janet
Yellen failed to ease profit-taking in the tech
sector. MSCI's gauge of stocks across the globe .MIWD00000PUS rose
0.06%.
U.S. crude CLc1 fell 1.81% to $60.07 per barrel, and Brent
LCOc1 fell 1.46% to $63.45 a barrel, giving back some of the
previous day's gains made after one of the world's largest
container ships ran aground in the Suez Canal, blocking a vital
shipping lane. Benchmark 10-year U.S. Treasury yields US10YT=RR rose to
1.6209%, supported by positive data on the U.S. manufacturing
sector.
Investors have focused on the 10-year Treasury yield,
pondering if there is room for long-term interest rates to run,
said David Kelly, chief global strategist at JPMorgan Asset
Management. "We know that the economy is primed to begin to really
accelerate in the second quarter," Kelly said. "But we haven't
seen that acceleration yet so that's what we're waiting for."
The dollar hit a fresh four-month high of $1.1804 per euro
EUR=EBS on Thursday as extended lockdowns and worries about
the pace of vaccinations across Europe hobbled the common
currency.
Even Germany's reversal of a call for a strict lockdown over
the Easter period was not able to help the euro. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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