Asian shares headed lower on Friday as profit-taking in Taiwanese chip giant TSMC, despite record profits, weighed on other tech firms and broader risk sentiment, while a more dovish U.S. rates outlook kept bond yields near multi-month lows.
While the world's largest contract chipmaker posted record quarterly sales and forecast higher revenue for the current quarter, investors took profits, fearing its best times could already be behind it. While those indexes remained near record levels, supported by the prospects of an economic recovery, investors were turning wary on riskier, less liquid assets.
The 10-year U.S. Treasuries yield fell to 1.302per cent, edging near five-month low of 1.250per cent touched last week.Bond yields fell even as data earlier this week showed U.S. consumer inflation hitting its highest in 13 years.