Asian stocks mainly up as Ukraine fears offset upbeat Fed forecasts

Tokyo — Asian stock markets were mostly higher on Thursday while bond yields extended their decline as investors weighed risks of a Ukraine invasion against signs that the US Federal Reserve won't be as aggressive as feared in tightening policy.

Worries about a superhawkish Fed rate-tightening campaign, potentially including a 50 basis-point hike next month, took a step down overnight after minutes of the latest policy meeting signalled a more measured, data-dependent approach from central bank officials. US Treasury yields continued their retreat in Asia on Thursday, with the 10-year yield easing about two basis points to 2.03%, pressured by bets for a less hawkish Fed and demand for safe haven assets amid Ukraine uncertainty.

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