Asian stocks were mixed on Friday after treasuries topped and U.S. equities fell on U.S. inflation coming out four decades high leading to expectation of more hawkish actions by the Federal Reserves.
The CSI300 and TOPIX are trading marginally higher by 0.38% and 0.53% respectively while HSI and KOSPI down by 0.37% and 0.63% respectively.
Overnight the S&P 500 sank 1.81% and Nasdaq 100 by 2.33% respectively.
U.S. treasury yield topped 2.03% on expectation of more hawkish FED after inflation surged over target of 2% reaching 7.5%. The soaring inflation underscores biggest annual increase in 40-year jittering expectation of 50 basis point interest rate hike form the FED next month.
