Asian Stocks Rise as Tech Leads, Bond Yields at Multi-Year Highs
The Asian markets experienced an uptick on September 30, as easing oil-market concerns offset the bond selloff ahead of a crucial US inflation reading. The MSCI Asia Pacific Index advanced 0.4%, led by technology companies after a key gauge of US semiconductor shares rose.
US equity-index futures also edged up, while bonds remained in focus following losses earlier in the week when a rally in oil prompted traders to price in further interest-rate hikes by the Federal Reserve.
Oil prices and US-Iran tensions remain key sources of uncertainty, with markets looking for clearer signs of progress in negotiations after conflicting signals in recent days. Global bond yields have climbed to multi-year highs as elevated energy costs threaten to keep inflation persistent and reinforce expectations for further Fed interest-rate hikes.