Asia Markets Rally on Fed Rate Hike Expectations
Asia's markets staged a relief rally on Thursday as investors awaited fresh US data and central banker comments for signals that could determine whether the Federal Reserve tightens policy this month.
Shares in the Asia-Pacific region, excluding Japan, advanced 0.5% after US stocks ended the previous session with mild gains. The dollar index fell 0.05% to 99.54, while the euro edged up 0.02% to $1.1589.
The yen held on to its recent gains, strengthening 0.07% to 158.59 per dollar, as Japanese government bond yields slid from historic peaks in response to a recovery in Treasuries overnight.
US Treasury yields eased from multi-year highs overnight, with the yield on benchmark US 10-year notes falling 0.99 basis points to 4.784% and the yield on the 30-year JGB sinking 10 basis points to 4.065%, down from a near record high.