Asian stocks dip as rising American bond yields drive outflow worries
On Friday, Asian shares sank and emerging market currencies slumped as market participants feared that higher interest rates under incoming President Donald Trump are going to provoke capital outflows from the region.
Outside Japan, MSCI's broadest index of Asia-Pacific stocks lost 1.4% as American bond yields kept soaring on views that Trump's spending plans will spur inflation, probably triggering more aggressive rate lifts by the Federal Reserve.
The Mexico peso, dived to almost its record minimum reached after Trump's sudden sweep to power.
Japan's Nikkei bucked the trend, ascending more than 1% to 6-1/2-month peaks, the Japanese yen weakened against the strengthening greenback.
On Wall Street, the U.S. S&P 500 Index leapt 0.2% while the Dow Jones industrial average grew1.2%, thus smashing through its previous record peak achieved in August by almost 1%.
In contrast, the technology-heavy Nasdaq headed south 0.8%, with Apple dipping 2.8%, reached by fears that Trump's immigration policy could prevent Silicon Valley from absorbing talent from around the globe as it does currently.