Stock market today: Asian shares mostly decline after Wall Street drops on higher bond yields
Asian shares have slipped as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S. Benchmarks fell in Tokyo, Hong Kong, Shanghai and Seoul, and were little changed in Sydney
TOKYO (AP) — Asian shares mostly slipped Friday as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S.
Japan’s inflation data showed consumer prices rose 3.1% from a year earlier in July, down from 3.3% in June. But that was still higher than the 2.5% forecast by some analysts and above the Bank of Japan's target at 2%.
The core consumer price index, which eliminates energy and fresh food prices from the measure, rose 4.3% on year, according to the Ministry of Internal Affairs and Communications.
Japan's Nikkei 225 slipped 0.6% to finish at 31,450.76. Australia's S&P/ASX 200 was virtually unchanged, inching up less than 0.1% to 7,148.10. South Korea's Kospi shed 0.7% to 2,502.52. Hong Kong's Hang Seng dropped 1.7% to 18,017.77, while the Shanghai Composite edged down nearly 0.7% to 3,142.10.
