Asian markets mostly fall

Asia-Pacific markets fell broadly overnight, taking cues from U.S. markets, while the Bank of Korea held interest rates steady at 3.5 percent for the sixth consecutive time.

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This also reflects movements on Wall Street as U.S. Treasury yields rose to multi-year highs, with the 10-year Treasury yield climbing above 4.9 percent for the first time since 2007. Meanwhile, the average rate on a 30-year fixed mortgage reached 8 percent, the highest level since 2000.

While Japan recorded a higher-than-expected trade surplus of 62.4 billion yen (416.6 million dollars) in September, data from Australia showed that the unemployment rate fell to 3.6 percent last month.

In Australia, the S&P/ASX 200 fell 1.54 percent, wiping out all gains made this week.

Japan's Nikkei 225 index also lost 1.86 percent, while the Topix index saw a smaller loss of 1.45 percent following the release of trade data.

In South Korea, the Kospi fell 1.73 percent and the Kosdaq lost 2.63 percent.

Hong Kong's Hang Seng index also saw a loss of 1.73 percent, while China's CSI 300 index lost 1.2 percent.

News Source: 12punto