Asian stock markets were mixed Tuesday following a bond sell-off on Wall Street amid anxiety about higher U.S. interest rates.
Shanghai and Tokyo advanced while Hong Kong and Seoul declined. The yen, already trading at two-decade lows, fell further to below 132 to the dollar.
The Shanghai Composite Index advanced 0.2% to 3,243.73 after Chinese authorities eased anti-virus restrictions that shut down businesses in Shanghai and other major cities. Markets are swinging between gains and losses as investors weigh evidence about whether the Fed's rate hikes can cool inflation that is running at a four-decade high without tipping the U.S. economy into recession.
The yield on the 10-year Treasury, or the difference between the market price and the payout if held to maturity, jumped back above 3% to 3.04%, up from 2.95% late Friday.
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