Asian Stocks Rise as Tech Leads, Bond Yields Hit Multi-Year Highs

Asian stocks rose for the first time in three sessions, led by technology shares. The MSCI Asia Pacific Index gained 0.6%, with Japan and South Korea's markets also increasing.

The moves followed gains in a key gauge of US semiconductor shares, as well as President Donald Trump's rejection of regulations on artificial intelligence.

Brent crude oil prices rose 0.6% to $103.25 a barrel after dropping 2.6% the previous day, due in part to Saudi Arabia restoring about half its East-West pipeline capacity following drone attacks.

Global bond yields have climbed to multi-year highs as elevated energy costs threaten to keep inflation persistent and reinforce expectations for further Federal Reserve interest-rate hikes.