Picture used for illustrative purpose. File

Gulf Today Report 

Asian stocks declined on Friday after the rise in US bond yields affected investors buying enthusiasm due to the Federal Reserve’s pledge to keep interest rates low.

Shanghai, Tokyo, Hong Kong and Sydney retreated.

In a report, Stephen Innes of Axi said, "the rapid rise in long-end US yields has spooked investors.

The Shanghai Composite Index sank 1% to 3,426.91 and the Nikkei 225 in 

Tokyo lost 1.2% to 29,851.37. The Hang Seng in Hong Kong retreated 1.6% to 28,950.83.

The Kospi in Seoul shed 0.6% to 3,047.81 Sydney's S&P-ASX 200 gave up 0.6% to 6,705.20. 

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India's Sensex opened down 0.2% at 49,133.92. New Zealand and Singapore gained while Bangkok and Jakarta retreated.

Investors are weighing between the options of vaccine led- economic recovery and fears of possible inflation. 

European stock

European stocks dropped on Friday following the imposing of fresh lockdown in France as coronavirus cases surge. 

The pan-European STOXX 600 fell 0.6% by 08:09 GMT. France's CAC 40 was down 0.7% after the nation imposed a new four-week lockdown from Friday in 16 regions badly hit by the health crisis. 

The decline in European stocks was led by oil & gas, banks and miners.