Asian Stocks Weather Bond Storm as Oil Nears $105

Asian stocks maintained their composure on Friday despite a persistent bond selloff that pushed US long-dated yields to two-decade highs, increasing borrowing costs worldwide and threatening lofty equity valuations.

The return of oil above $100 a barrel, with Brent crude nearing $105, has revived inflation fears, bolstering bets on multiple Federal Reserve rate hikes after its first move in more than three years and putting the dollar on track for a 1% weekly gain.

Chinese President Xi Jinping's visit to Washington for talks with President Donald Trump yielded scant evidence of breakthroughs on contentious issues such as AI, trade, Taiwan, or the war with Iran.

Japan's Nikkei rose 1%, while Australia's resources-heavy shares fell 0.6%. Hong Kong's Hang Seng index skidded 1%.