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Asian shares were mostly lower Friday after Wall Street retreated following strong economic reports that raised the possibility of interest rates staying painfully high.
U.S. futures edged higher and oil prices also rose
Japan’s Nikkei 225 index lost 1.2 percent to 38,623.78 and the Hang Seng in Hong Kong fell 0.4 percent to 18,798.89.
South Korea’s Kospi declined 1.2 percent to 2,689.42, while in Australia, the S&P/ASX 200 shed 0.9 percent to 7,740.60.
Taiwan’s Taiex slipped 0.2 percent after hitting a record high on Thursday.
On Thursday, most U.S. stocks slumped, in the latest example of how good news for the economy can be bad for Wall Street, when strong economic reports raised the possibility of interest rates staying painfully high.
The weakness was widespread and overshadowed another blowout profit report from market-heavyweight Nvidia.
The S&P 500 fell 0.7 percent to 5,267.84 in its sharpest drop since Apri. The Dow Jones Industrial Average dropped 1.5 percent to 39,065.26, and the Nasdaq composite slipped 0.4 percent to 16,736.03.
Treasury yields cranked up the pressure following the stronger-than-expected reports on the U.
