Asian stock markets are trading lower on Friday on Wall Street and Europe, as 10-year U.S. Treasury yields surged to near 18-month highs and crude futures soared to 16-month highs.

Japan's benchmark index, Nikkei 225 lost 104.56 points or 0.56 percent to trade at 18,408.56. China's benchmark index, Shanghai Composite rose 1.75 points or 0.05 percent to trade at 3,275.06. Hong Kong's Hang Seng declined 195.34 points or 0.85 percent to trade at 22,682.89.

Singapore's Straits Times fell 1.87 points or 0.06 percent to trade at 2,926.71. South Korea's KOSPI fell 13.81 points or 0.7 percent to trade at 1,969.94.  Taiwan's TAIEX fell 65.17 points or 0.7 percent to trade at 9,198.36.