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Asian stocks edge up, dollar sags as markets mull Fed risks

U.S. Treasury yields remained elevated in Tokyo after bouncing off four-month lows overnight. Japanese government bond yields stayed depressed, two days after the Bank of Japan defied investor pressure to loosen yield curve controls further.

January 20, 2023 / 10:02 IST
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Asian markets

Most Asian equity markets edged higher on Friday, while the U.S. dollar hung near its weakest level since May, with investors fretting about the risks of a global recession as the Federal Reserve presses on with interest rate increases.

U.S. Treasury yields remained elevated in Tokyo after bouncing off four-month lows overnight. Japanese government bond yields stayed depressed, two days after the Bank of Japan defied investor pressure to loosen yield curve controls further.

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Japan's Nikkei added 0.16%, while Australia's benchmark edged 0.09% higher, although South Korea's Kospi slipped 0.24%.

Hong Kong's Hang Seng advance620.75% and mainland blue chips were 0.32% firmer.