Wall Street stocks retreated Friday as the market's latest rally lost steam, while the yen pushed higher after the Bank of Japan lifted interest rates.

Asia-Pacific markets trade mostly higher on Friday following an upbeat session on Wall Street overnight after U.S. President Donald Trump said he would push for lower interest rates and cheaper oil prices,

NEW YORK (AP) — U.S. stocks are drifting around a record on Friday as they head for the close of a second straight winning week.

Shares are mixed in Asia after U.S. stocks edged back from their all-time high, with many regional markets closed for lunar new year holidays

Japan’s core inflation rate rose to a 16-month high at 3% in December, year on year, boosting the case for a rate hike from the Bank of Japan.

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Japan's central bank has raised its key interest rate to about 0.5% from 0.25%, noting that inflation is holding at a desirable target level.

TOKYO (AP) — Asian shares mostly rose Thursday, following a rally on Wall Street driven by encouraging update on U.S. inflation. Japan’s benchmark Nikkei 225 added 0.2% to 38,532.18.

Wall Street is tumbling on fears the big U.S. companies that have feasted on the artificial-intelligence frenzy are under threat from a competitor in China. The S&P 500 fell 1.8% in early trading Monday.

Wall Street pointed slightly lower in early trading Friday but remains on track to close the week with solid gains with major corporations turning in largely healthy earnings reports. Futures for the S&P 500 ticked down 0.

LIVE: Markets in Indian are poised to open higher today on the back of improving global cues ahead of major global and domestic macroeconomic events during the week

As a tech stock rout and U.S. dollar swings driven by President Donald Trump's tariff threats send markets into a tailspin, investors are piling into assets from Japan's yen to European credit that could act as a buffer to the turbulence.