Asian Stocks Rise as Investors Await 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 bruising selloff in bonds.

Japan's Nikkei 225 rose 1.4%, while the broader Topix gained 0.6%.

The recent rise in longer-dated Treasury yields raised concerns about inflation persistence and potential Fed rate increases.

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