Asian Stocks Rebound as Bond Yields Retreat
Asian stocks rebounded on Thursday as global bond yields retreated from recent highs and oil prices stabilized. The easing came after US President Trump downplayed the prospect of a prolonged US-Iran conflict, calming jittery markets.
The MSCI Asia Pacific Index rose 1.1%, rebounding from Wednesday's sell-off, with chip-related stocks leading the advance. South Korea's SK Hynix was among the top gainers, buoyed by Broadcom's optimistic outlook for AI chip sales over the next two years.
Japan's Topix index finished 0.5% higher at 4,102.04, while the Nikkei 225 slipped 0.2% to 64,214.48. The yen strengthened significantly for a second straight session, briefly touching a three-week high and sparking speculation that Japanese authorities may step in to support the currency.
The US dollar index slipped 0.2% for a second consecutive day. Gold rose 1.2% to approximately $4,430 per ounce, reflecting continued safe-haven demand.