Asian stocks saw muted gains on Thursday, though Chinese and Hong Kong markets tumbled on worries of a possible trade war between China and the United States in the wake of Donald Trump's return to the White House.
Longer-dated U.S. bond yields rose alongside the dollar while gold hit an eight-week low after some Federal Reserve officials shifted their attention back to inflation risks.
It is feared that Trump's plan for lower taxes and higher tariffs will stoke inflation, result in larger U.S. deficits and reduce the Fed's scope to ease interest rates during 2025 and beyond.
Oil prices were lower in Asian trading amid concerns about rising global output and slow demand growth.
China's Shanghai Composite index fell 1.73 percent 30 3,379.84 as growth worries persisted despite the recent stimulus package.
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