Asia Stocks Rally Amid Relief Over Potential Fed Rate Hike Delay

Global markets staged a relief rally on Thursday as investors awaited fresh signals from the Federal Reserve on interest rates.

The Asian market indices, including Japan's Nikkei and MSCI Asia-Pacific shares excluding Japan, rose by around 0.5% after U.S. stocks ended the previous session with mild gains.

U.S. Treasury yields eased from multi-year highs overnight, with the benchmark 10-year note yield falling to 4.784%, down from a peak of 4.99% earlier this week.

The rally in global markets was also driven by a decrease in oil prices, which fell by around 0.3% to $90.74 per barrel as investors remained cautious over the escalating tensions between the U.S. and Iran.