Tokyo — Asian shares eked out modest gains on Thursday, clawing back sharp losses from earlier this week, however, rising US bond yields and interest rates could dampen investors’ optimism toward the global economic outlook. The US Federal Reserve flagged interest policy tightening later this year and upgraded inflation outlook, at its policy meeting that ended on Wednesday, its first in 2018 and last to be chaired by Janet Yellen, who will be replaced by governor Jerome Powell on February 3. It kept interest rates on hold as expected. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1% in early trade, slowly recovering after Tuesday’s 1.4% fall. Japan’s Nikkei also gained, rising 1.3% from a four-week low hit the previous day. US S&P 500 mini futures gained 0.4% in Asian trade on Thursday, helped by 1.4% gains in Facebook in after-hours trading following the company’s solid earnings. Later in the day, three US tech giants, Apple, Google parent Alphabet and Amazon.c...

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