Asian Stocks Rise Amid US Inflation Data Uncertainty

Asian stocks rose on Wednesday as investors awaited key US inflation data for clues on the Federal Reserve's next moves. The MSCI Asia Pacific Index gained 0.9%, with all but one of its industry groups advancing.

The Nikkei 225 in Japan rose by 1.4%, while the broader Topix index gained 0.6%. South Korea's Kospi and Kosdaq both advanced more than 1%, while Australia's S&P/ASX 200 was marginally higher.

The recent sharp rise in longer-dated Treasury yields has raised concerns about the persistence of inflation and the possibility of further Fed rate increases. The 30-year Treasury yield reached its highest level since June 2002, at 5.6206% on Tuesday.

However, US Treasury yields steadied across the curve after climbing sharply earlier in the week. The benchmark 10-year yield retreated to 5.24%, while the 30-year yield slipped to 5.52%.