Asian Stocks Rise as Investors Await Key US Inflation Data

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 10 of its 11 industry groups advancing, after a sharp rise in longer-dated Treasury yields raised concerns about the persistence of inflation and the possibility of further Fed rate increases.

The 30-year Treasury yield reached 5.6206% on Tuesday, its highest level since June 2002, while the benchmark 10-year yield climbed to 5.293%, its highest since June 2007.