Asian Stocks Rise as Traders Weather Higher Yields: Markets Wrap

Asian stocks look set to close out a lackluster week on a positive note on Friday as investors continue to debate the outlook for central bank policy normalization and the impact of higher bond yields.

The MSCI Asia Pacific Index rose as equities climbed in Tokyo, Hong Kong, Sydney and Seoul. The U.S. offered little fresh direction overnight, with the S&P 500 Index closing just in the green, after losing most gains for a fourth straight day in afternoon trading. The dollar, which has got some support this week from higher Treasury yields, dropped on Thursday and is little changed Friday. Ten-year U.S. yields remain near their highest since 2014.

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