Stocks in Shanghai entered a bull market but other Asian markets stuttered on Friday as the rally in the dollar following Donald Trump's win in the U.S. presidential election dampened demand for emerging market assets.
The dollar index traded down 0.12 percent at 98.664 as of 2:45 pm HK/SIN, but had touched 99.081, its highest level in more than two weeks, during U.S. hours. The dollar strength stemmed from the ongoing sell-off in U.S. Treasurys and the steepening of the yield curve after the U.S. election results.
The yield on the benchmark 10-year Treasury note climbed to 2.1378 percent as of 1:45 pm HK/SIN compared to yields at around 1.8 percent earlier this week. The 30-year Treasury bond's yield was up to 2.9453 percent, its highest level since January 12.