Bitcoin price hits 17-month high on prospects of crypto ETF

China’s top diplomat Wang Yi urged Israeli foreign minister Eli Cohen to find a political settlement to the conflict with Hamas, adding that while all countries “have the right to self-defence” they should operate within the boundaries of humanitarian law.

According to a Tuesday report by state news agency Xinhua, Wang reiterated Beijing’s call for a two-state solution to Israel-Palestine tensions.

Chinese leader Xi Jinping has called for a ceasefire and humanitarian corridors for Gaza, where Israel has bombarded with air strikes ahead of an expected ground invasion.

Wang and Cohen spoke on Monday, Xinhua said.

Asia stocks fell on Tuesday as elevated US Treasury yields and continued conflict in the Middle East weighed on markets.

Hong Kong’s Hang Seng index fell 1.5 per cent, while China’s CSI 300 dropped 0.4 per cent, Japan’s Topix shed 0.8 per cent and South Korea’s Kospi declined 0.5 per cent.

The 10-year US Treasury yield fell back on Monday after rising above 5 per cent for the first time in 16 years, continuing the recent sharp swings in global bond markets.

Yields, which move inversely to price, were little changed on Tuesday in Asian trading, adding 0.01 percentage points to 4.84 per cent.

The Bank of Japan on Tuesday continued a run of unscheduled purchases of government bonds in an attempt to control a jump in yields as investor expectations rise for a further policy revision next week. 

On top of its scheduled daily bond-buying operations of 10-year notes, the central bank offered to buy ¥300bn ($2bn) in bonds of…