SYDNEY
\nAsian shares were lower on Friday as lingering banking stability concerns gripped Wall Street, while bonds bet the recent slew of rate hikes by central banks will be among the last of the cycle, allowing for policy relief later in the year.
\nMSCI\u2019s broadest index of Asia-Pacific shares outside Japan fell 0.6%% on Friday, erasing some of the recent gains to be up 1.7% for the week. Japan\u2019s Nikkei also slid 0.4%.
\nChina\u2019s bluechips eased 0.4%, Hong Kong\u2019s Hang Seng Index lost 0.7%, and both the S&P 500 futures and Nasdaq futures were in the red.
\nData out on Friday also showed Japan\u2019s manufacturing activity contracted for a fifth straight month in March, adding to evidence of sputtering global demand, while core consumer inflation in Japan eased, although price pressures persist.
\nOn Wall Street, the Dow Jones closed up 0.2% and the S&P 500 rose 0.3%, after a bout of choppy trading late in the day. The Nasdaq Composite Index jumped 1%, as falling Treasury yields boosted shares of technology firms.
\nTreasury Secretary Janet Yellen said on Thursday that she was prepared to take further actions to ensure bank deposits are safe, a day after saying that blanket insurance was not on the agenda.
\n\u201cThey\u2019re still struggling with what they do in terms of uninsured bank deposit\u2026that\u2019s what\u2019s partly given us the roller coaster ride a little bit in share markets,\u201d said Shane Oliver, chief economist at AMP.<\/p>\n","protected":false},"excerpt":{"rendered":"
SYDNEY Asian shares were lower on Friday as lingering banking stability concerns gripped Wall Street, while bonds bet the recent slew of rate hikes by central banks will be among the last of the cycle, allowing for policy relief later in the year. MSCI\u2019s broadest index of Asia-Pacific shares outside Japan fell 0.6%% on Friday, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-321643","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n