A passerby is reflected on an electric monitor displaying the graph of recent moments of the Japanese yen exchange rate against the U.S. dollar in TokyoHONG KONG - Asia stocks traded mixed on Wednesday and benchmark U.S. Treasury yields were near multi-year highs, as investors sour on both stocks and bonds amid worries about the impact of higher-for-longer interest rates.
On Tuesday, Wall Street's major stock indexes followed Asian and European equities lower as investors continued to digest last week's indication from the Federal Reserve that it would keep rates higher for longer than investors had previously expected. In currencies, the dollar index, which tracks the greenback against a basket of currencies of other major trading partners, advanced 0.085% to 106.3, after hitting 106.21 on Tuesday, the highest since Nov. 30. The European single currency was down 0.1% on the day at $1.0564, having lost 2.56% in a month.The Japanese yen remained weak versus the greenback at 149.06 per dollar.