Tech slump knocks Asia shares, yen towers at 2-1/2-month peak

SYDNEY: Asian shares were hammered on Thursday as a slump in global tech stocks sent investors fleeing into less risky assets, including short-dated bonds, the yen and Swiss franc.

Chinese stocks, iron ore and oil prices dropped further after the country's central bank sprang a surprise cut in longer-term interest rates, only stoking further worries about the world's second-largest economy.