(Bloomberg) -- Stocks in Asia are set for a muted start, mirroring their U.S. counterparts, after a mixed bag of earnings and concerns over rising rates weighed on investor confidence. Treasuries fell and the dollar jumped as Federal Reserve minutes appeared to lean toward more interest-rate increases.

The yuan was steady after the U.S. Treasury refrained from naming China a currency manipulator in its semi-annual report on foreign-exchange rates, averting an escalation of a trade war. Japanese equity-index futures were little changed and they fell in Australia. Hong Kong is poised for gains after traders return from a holiday, while Chinese futures indicate losses. In the U.S., the S&P 500 Index failed to extend the biggest rally since March, closing flat.

The 10-year Treasury yield rose to 3.21 percent after minutes showed Fed officials appeared to favor an eventual move in rates above the level they see as neutral for the economy. The dollar rose the most in two weeks. Oil fell below $70 a barrel after American stockpiles swelled for the fourth straight week.

The risk-off tone across markets highlights the fragility of investor confidence just days after the worst week for global stocks since March. The uneven batch of U.S. earnings reports rekindled concern that corporate profit growth may have peaked. In the latest salvo in the trade dispute, President Donald Trump plans to withdraw the U.S. from a postal treaty that gives Chinese companies discounted shipping rates for small packages sent to American consumers. While the U.S. held back from saying China was manipulating its currency, it did say it will closely monitor the yuan after its recent slide.

Elsewhere, the Turkish lira gained as the country took advantage of a lull in political turmoil to return to the dollar bond market.

Terminal readers can read more in our Markets Live blog.

Here are some key events for the rest of this week:

  • Third-quarter GDP for China comes Friday in addition to last month’s retail sales and factory output.

These are the main moves in markets:

Stocks

  • Futures on the Nikkei 225 Stock Average ticked higher in Singapore.
  • Futures on Australia’s S&P/ASX 200 Index fell 0.4 percent.
  • Hong Kong’s Hang Seng Index futures rose 1.5 percent as stocks are seen making up for Wednesday’s rally.
  • FTSE China A50 futures fell 0.3 percent.
  • The S&P 500 was little changed Wednesday.

Currencies

  • The Japanese yen traded at 112.66 per dollar after falling 0.4 percent.
  • The offshore yuan was at 6.9265 per dollar, holding on to a 0.3 percent slide.
  • The Bloomberg Dollar Spot Index advanced 0.5 percent, the most since Oct. 3.
  • The euro traded at $1.1503, around the weakest in two weeks.

Bonds

  • The yield on 10-year Treasuries rose four basis points to 3.21 percent.

Commodities

  • West Texas Intermediate crude decreased 2.6 percent to $70.05 a barrel.
  • Gold was steady at $1,222.34 an ounce.

--With assistance from Sophie Caronello, Randall Jensen and Vildana Hajric.

To contact the reporter on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.net

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac Mullen

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