BANGKOK — Shares were mostly lower in Asia on Friday after stocks pulled back from their recent record highs on Wall Street as bond yields fell and investors turned cautious.
Benchmarks fell in Tokyo, Seoul, Sydney and Shanghai but rose in Hong Kong.
U.S. futures were higher and the yield on the 10-year Treasury note rose to 1.33%. On Thursday it fell to 1.30%, its lowest level since February. It recently was trading at 1.74%.
Traders have been shifting money into bonds in recent weeks, pulling down the benchmark yield, which is used to set rates on mortgages and many other kinds of loans.
Tokyo’s Nikkei 225 declined 0.6% to 27,940.42, while the Kospi in South Korea declined 1.1% to 3,217.95.
