HONG KONG (AP) — Asian stocks were mostly higher Friday after U.S. stocks fell. market’s big rally Going after Trump election victory it got colder.

US futures and oil prices fell.

In Tokyo, the Nikkei 225 index rose 0.8% to 38,842.13 as the yen continued to fall against the US dollar and exporters increased their sales. Shares of Nissan Motor Co. rose 4.7% in morning trading.

Japan’s economy grew at an annual rate of 0.9% in the July-September quarter, above the 0.5% increase in the previous quarter; Despite this, the Bank of Japan raised its key interest rate to 0.25% from 0.1% in July. At its October meeting, the BOJ said it plans to continue raising interest rates with a potential target of 1 percent in the second half of the next fiscal year, which starts in April, if economic activity and prices develop as expected.

The Hang Seng index in Hong Kong increased by 0.3 percent to 19,486.97 points, while the Shanghai Composite index showed that the country’s retail sales increased by 4.8 percent on an annual basis in October, exceeding estimates, according to the report published by the National Bureau of Statistics on Friday. After its showing, it decreased by 0.4 percent to 3,367.94 points. . However, industrial production slowed down compared to the previous month and improvements in the real estate sector remained marginal.

The S&P/ASX 200 index in Australia increased by 0.7% to 8,279.20 points, and the Kospi index in South Korea increased by 0.2% to 2,407.27 points.

On Thursday, the S&P 500 fell 0.6% to 5,949.17 points but is still near the top. all time high It was set on Monday. The Dow Jones Industrial Average decreased by 0.5 percent to 43,750.86 points, and the Nasdaq composite index decreased by 0.6 percent to 19,107.65 points.

Some of the stocks that took the biggest blow from Trump’s election lost momentum. Tesla fell 5.8% in only its second loss since Election Day. It is run by Elon Musk, who has become a close ally of Trump.

Small stocks also fell harder than the rest of the market, with the Russell 2000 index of small stocks losing 1.4%. This is a reversal from the immediate aftermath of the election, when there was a sense that an “America First” president would benefit domestically focused companies more than large multinationals that could be hurt by tariffs and trade wars.

Stocks also felt the effects of fluctuations in the bond market. Latest economic reports warmer than expected and comments from Federal Reserve Chairman Jerome Powell. The Fed cut its key interest rate earlier this month for the second time this year to ease pressure on the economy, and investors are clamoring for more.

But short-term yields climbed after Powell said: “The economy is not sending any signals that we should be in a hurry to cut rates.” “The strength we see in the economy right now gives us the ability to approach our decisions carefully.”

The two-year Treasury yield, which closely tracks expectations for Fed action, rose to 4.35% from 4.28% late Wednesday.

That price had fluctuated earlier Thursday following a report showing prices paid at the U.S. wholesale level were 2.4% higher in October than a year earlier. That was an acceleration from September’s wholesale inflation rate of 1.9% and a worse jump than economists had expected.

Meanwhile, a separate report suggested that the U.S. job market remains solid. Fewer US workers applied for unemployment benefits Last week came the final signal that layoffs would not increase.

The yield on the 10-year Treasury note also moved up and down before settling at 4.45%.

In other trading, U.S. benchmark crude lost 62 cents to $68.08 a barrel in electronic trading on the New York Mercantile Exchange.

Brent crude, the international standard, fell 66 cents to $71.90 a barrel.

The dollar rose from 156.23 yen to 156.32 Japanese yen. Euro rose from $1.0534 to $1.0543.

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AP Business Writer Stan Choe contributed.