Asian shares were mixed on Friday with concerns eased in China after a late sharp selloff overnight linked to 10-year government bond yields crossing 4% though trading was thin without a US lead.
In Japan, the Nikkei 225 dipped 0.05%, while the S&P/ASX in Australia eased 0.09%.
In Greater China, the Shanghai Compoite dipped 0.59%, while the Hang Seng index rose 0.32%. Overnight, China's CSI 300 Index sank 52 points in the final 45 minutes of trading, the steepest afternoon decline since the depths of China’s stock market crash in January 2016.
A mix of tighter lending rules and firmer bond prices were seen as reasons for declines in the last session. Market watchers said shares that were sold off on Thursday had in fact risen in the past weeks and continued to possess relatively good fundamentals despite falling on Thursday.
SenseTime Group, a Chinese artificial intelligence company, intends to launch an initial public offering, Reuters reported on Thursday. SenseTime is also attempting to expand in the U.S., with plans to begin a research and development unit in the country as early as 2018 in the works.
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