Chinaexposed luxury stocks weigh
Carmat hits alltime low on warning it could run out of cash
ASOS sees profit at lower end of guidance as turnaround stutters
STOXX 600 down 0.5, tech stocks fall 1.1

Sept 26 Reuters European shares extended losses on Tuesday as elevated bond yields pressured the ratesensitive technology sector, while weakness in Chinaexposed stocks persisted on slowdown jitters in the world39;s secondlargest economy.

The panEuropean STOXX 600 shed 0.5 by 0814 GMT, as the benchmark 10year Bund yields edged lower but hovered near their highest level since 2011.

Technology stocks, whose valuations come under pressure as yields rise, slid 1.1, while ratesensitive real estate stocks eased 1.0.

Energy stocks shed 1.2 as crude prices fell on concerns that fuel demand will be crimped by major central banks holding interest rates higher for longer.

Chinaexposed luxury stocks such as LVMH and Richemont weakened 1.5 and 2.2, respectively, amid lingering concerns over the crisishit Chinese property sector.

British online fashion retailer ASOS eased 0.5 after it reported a 15 fall in fourthquarter sales and forecast earnings around the bottom of its guided range.

The fast fashion ecommerce industry is notoriously difficult, particularly amid growing competition from brands like Shein in China which offer rock bottom prices and a constant churn of stock which provide customers with the very latest trends, said Victoria Scholar, head of investment at…