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Asia-Pacific stocks rise following heavy losses for some regional markets on Thursday

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SINGAPORE — Shares in Asia-Pacific rose in Friday morning trade following heavy losses for some regional markets in the previous trading day, as investors continue to assess the impact of a potentially faster-than-expected policy tightening by the U.S. Federal Reserve.

The Nikkei 225Early trade rose by 0.78%, partially reversing its decline of 0.68% nearly 3% drop on Thursday. Topix Index rose 0.51%

South Korea KospiGained 0.52% Australian shares rose in morning trading, as the S&P/ASX 200 rising 1.32%.

MSCI’s Asia-Pacific share index outside Japan was 0.2% higher.

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Markets have been spookedThe Fed released minutes of its December meeting earlier in the week and showed that officials were ready to reduce policy assistance.

Refer to the benchmark yield U.S. 10-year Treasury note rose as high as 1.75% on Thursday, last sitting at 1.7228% — still much higher after ending 2021 at 1.51%. Prices are inversely related to yields.

Overnight on Wall Street, the Dow Jones Industrial Average fell 170.64 points to 36,236.47 while the S&P 500 shed about 0.1% to 4,696.05. The Nasdaq Composite lost 0.13% and was at 15,080.87.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.32 — holding above levels below 96 seen earlier this week.

The Japanese yenThe dollar traded at 115.87 dollars, higher than yesterday’s levels of 116. The Australian dollarAfter yesterday’s decline from $0.72, it was $0.7164.

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