Asian Markets Swung by US Treasury Yields, Japan's Economy Shines

Asian equity markets showed mixed results on Wednesday following overnight losses on Wall Street. The US Treasury yields reached fresh multiyear highs, causing concern among investors.

The Dow futures rose by 0.36% and S&P 500 futures gained 0.16%, while Nasdaq 100 futures dipped 0.04%. In commodity markets, WTI crude oil held steady below $90 per barrel, and spot gold traded near $4,200 per ounce.

In regional news, South Korea's KOSPI fell 0.35% to around 6,930 due to a 1.8% month-over-month decline in retail sales in August. However, Japan's Nikkei 225 JPN225 rose 2.10% to above 66,000, with the Japanese yen strengthening past 157 per dollar.

China's economy showed signs of improvement, with factory and services activity returning to growth across both private and official surveys in September. The country's offshore yuan hovered around 6.70 per dollar on Wednesday as upbeat PMI data and fresh policy support strengthened confidence.