SINGAPORE — Shares in Asia-Pacific were mixed in Friday trade, as investors in the region reacted to the Thursday release of a hotter-than-expected U.S. consumer inflation report that pushed the 10-year Treasury yield past 2%.
South Korea’s Kospi fell 0.28%, with shares of game developer Krafton plunging more than 11% after it announced Thursday a 84.9% year-on-year drop in its net profit for the fourth quarter.
MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.65%.
Markets in Japan are closed on Friday for a holiday.
Investors monitored moves in U.S. bond yields on Friday, after the U.S. consumer price index for January showed a hotter-than-expected 7.5% year-over-year rise — its largest gain since 1982. The reading was also higher than Dow Jones estimates of 7.2% for the closely watched inflation gauge.
The benchmark U.S. 10-year Treasury yield, which crossed 2% Thursday stateside after starting the year at 1.51%, last sat at 2.0363%. Yields move inversely to prices.
The major indexes on Wall Street tumbled overnight, with the Dow Jones Industrial Average dropping 526.47 points to 35,241.59 while the S&P 500 shed 1.81% to 4,504.08. The tech-heavy Nasdaq Composite lagged as it plunged 2.1% to 14,185.64.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.913 after recently dropping from levels close to 96 before bouncing from below 95.4.