BANGKOK — Shares were mixed in Asia on Wednesday after a modestly higher close on Wall Street as concerns over pressures on global growth tempered gains in the absence of major data releases.
Tokyo’s benchmark Nikkei 225 index slipped 0.2%, to 26,387.72, a day after the Bank of Japan gave in to pressure on the yen by expanding the cap on the yield of the 10-year Japanese government bond to 0.50%. It had been 0.25%.
On Tuesday, the Nikkei 225 lost 2.5%.
The slight softening of the Japanese central bank’s opposition to raising interest rates to cut inflation rattled world markets Tuesday, with bond yields pushing higher. The BOJ has kept its key lending rate at minus 0.1% for years, trying to spur growth by keeping credit ultra cheap.
Higher yields make borrowing more expensive, which slows the economy and can alleviate upward pressure on prices, while at the same time pulling…
