GLOBAL MARKETS-Asian tech shares track Nasdaq gains as inflation fears recede

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* Treasury yields retreat, lifting tech and growth stocks

* Taiwan paces equity gains in Asia while China stumbles

* Weaker U.S. economic data scuppers bets for early taper

* Bitcoin at $40,000 after plunge to $30,000 in wild week

By Kevin Buckland

TOKYO, May 21 (Reuters) – Asian tech and growth stocks rallied on Friday, following Wall Street’s overnight lead, as investors tempered fears about hot inflation and the prospects of an early tapering of stimulus by the Federal Reserve.

Japan’s tech-heavy Nikkei and Taiwan’s stock index stood out in the region – where equities were broadly mixed – with gains of 0.8% and 1.2% respectively.

Chinese blue chips lost 0.8%, however, weighed by financials and capping broader gains in the region.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.1%, putting it on track for a 1.9% weekly gain. The gauge’s tech components jumped 0.6% over the day.

Futures pointed to a further 0.3% rise for the S&P 500…

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