Asian Stocks Mixed as Investors Weigh Inflation and West Asia Tensions
Asian stocks showed mixed results in early trading on Thursday as investors weighed US inflation and tensions in West Asia. Japan's Nikkei 225 jumped 2.4% to 68,355.81, while South Korea's Kospi edged up 0.5% to 6,873.06.
However, Australia's S&P/ASX 200 lost 1.7% to 8,638.10, and the Shanghai Composite gained only 0.3% to 3,842.19. Hong Kong's Hang Seng added 0.4% to 24,613.27.
The yield on benchmark US 10-year Treasury notes rose to 5.29%, its highest level since mid-June 2007, amid concerns about inflation and economic growth. The 30-year Treasury yield climbed to 5.64% from 5.59% late Tuesday.
US stocks mostly fell on Wednesday, with the S&P 500 slipping 0.3% to close its third losing month in the last four. The Dow Jones Industrial Average dropped 443 points, or 0.9%, and the Nasdaq composite added 0.2%.