SINGAPORE — Shares in Asia-Pacific were mixed on Friday following heavy losses for some regional markets in the previous trading day, as investors continued to assess the impact of a potentially faster-than-expected policy tightening by the U.S. Federal Reserve.
The Hang Seng index in Hong Kong jumped 1.82% to close at 23,493.38, leading gains among the major markets.
The Nikkei 225 in Japan shed earlier gains closed marginally lower at 28,478.56, adding to losses after a nearly 3% drop on Thursday. The Topix index also finished the trading day fractionally lower at 1,995.68.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.75% higher.
Markets were spooked earlier in the week and fell sharply after minutes from the Fed’s December meeting showed officials at the central bank ready to aggressively dial back policy help.
The yield on the benchmark U.S. 10-year Treasury note rose as high as 1.75% on Thursday, last sitting at 1.7302% — still much higher after ending 2021 at 1.51%. Yields move inversely to prices.
Overnight on Wall Street, the Dow Jones Industrial Average fell 170.64 points to 36,236.47 while the S&P 500 shed about 0.1% to 4,696.05. The Nasdaq Composite slipped 0.13% to about 15,080.87.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.189 — holding above levels below 96 seen earlier this week.