China stocks extend declines with bond yields hitting record lows as PBOC reportedly signals rate cuts

Most Asia-Pacific markets were higher on Friday despite Wall Street’s decline, with Hong Kong’s Hang Seng index up 0.82% and China’s CSI 300 index dropping 0.28%. Chinese bond yields hit record lows, prompting the People’s Bank of China to consider cutting interest rates this year. Additionally, China plans to impose export restrictions on certain technology, while investors in Asia monitor political uncertainty in South Korea following President Yoon Suk Yeol’s impeachment and failed martial law attempt in December.

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