World Stocks Mixed on Treasury Yields  05/23 04:48

   World shares were mixed on Friday as U.S. Treasury yields eased after a 
rocky week due to worries in the bond market over mounting U.S. government debt.

   HONG KONG (AP) -- World shares were mixed on Friday as U.S. Treasury yields 
eased after a rocky week due to worries in the bond market over mounting U.S. 
government debt.

   The yield of the 10-year Treasury shed 0.8% to 4.52% while the two-year 
yield, which more closely tracks expectations for action by the Federal 
Reserve, slipped 0.3% to 3.99%.

   Oil prices dropped on expectations that the OPEC+ group of oil exporters may 
decide on another increase in output at their next meeting.

   U.S. benchmark crude oil fell 21 cents to $60.99 per barrel while Brent 
crude, the international standard, gave up 22 cents to $64.23 per barrel.

   In share trading, Germany's DAX gained 0.1% to 24,019.22, while the CAC 40 
in Paris slipped 0.5% to 7,825.09. The FTSE 100 added 0.1% to 8,743.69.

   The futures for the S&P 500 and the Dow Jones Industrial Average edged 
slightly lower.

   In other share trading, Tokyo's Nikkei 225 gained 0.5% to 37,160.47 after 
the government reported a core inflation rate of 3.5% in April, the highest 
since early 2023. Core inflation excludes volatile food and energy prices.

   The surge in prices has increased the likelihood that the Bank of Japan 
might raise its benchmark interest rate at its next policy meeting, analysts 
said.

   But uncertainty over U.S. President Donald Trump's tariff hikes will limit 
what the BOJ can do, given recent signs of weakness in the economy, Min Joo 
Kang of ING Economics said in a report.

   He added that "with US tariffs likely to impact manufacturing and exports 
negatively throughout this year, the BOJ's policy changes are likely to be 
gradual."

   Hong Kong's Hang Seng picked up 0.2% to 23,601.26, while the Shanghai 
Composite Index lost 0.9% to 3,348.37.

   Seoul's Kospi retreated 0.1% to 2,592.09 and the S&P/ASX 200 in Australia 
gained 0.2% to 8,360.90.

   On Thursday, stocks drifted to a mixed close on Wall Street.

   The S&P 500 slipped less than 0.1% and the Dow Jones Industrial Average fell 
1.35 points. The Nasdaq composite rose 0.3%.

   The majority of stocks within the S&P 500 lost ground, but gains for 
technology companies with outsized values offset those losses. Google's parent 
Alphabet jumped 1.4% and Nvidia rose 0.8%.

   Treasury yields held a bit steadier after the House of Representatives 
approved a bill that would cut taxes and could add trillions of dollars to the 
U.S. debt.

   The House's multitrillion-dollar spending bill, which aims to extend some 
$4.5 trillion in tax breaks from Trump's first term while adding others, is 
expected to be amended when it gets to the Senate for a vote.

   The legislation includes a speedier rollback of production tax credits for 
clean electricity projects, which sent shares of solar companies tumbling. 
Sunrun dropped 37.1%, Enphase Energy fell 19.6% and First Solar slid 4.3%.

   In economic updates, the number of Americans filing unemployment claims last 
week fell slightly. The broader employment market has remained strong, though 
businesses remain worried about the economic uncertainty amid a trade war.

   In other dealings early Friday, the U.S. dollar slipped to 143.21 Japanese 
yen from 144.01 yen. The euro rose to $1.1348 from $1.1279.