Asian Stocks Rise As Wall Street Extends Gains

Asian equities advanced following a rebound in U.S. stocks and bonds after a week marked by tariffs, disappointing tech earnings, and mixed economic data, Richard Henderson reported for Bloomberg News.

The S&P 500 and Nasdaq 100 posted their second consecutive day of gains on Wednesday, extending their recovery from Monday’s losses. I Photo: Andreas Poike Flickr

Shares in Australia, Japan, and South Korea climbed, while equity futures for Hong Kong also pointed higher. The S&P 500 and Nasdaq 100 posted their second consecutive day of gains on Wednesday, extending their recovery from Monday’s losses.

U.S. Treasuries remained stable in early Asian trading after rallying across the yield curve on Wednesday.

The U.S. 10-year yield fell nine basis points to 4.42%, while the policy-sensitive two-year yield dropped three basis points to 4.18%—both reaching their lowest levels since mid-December. Australian bond yields also declined early Thursday.

Lower yields put pressure on the U.S. dollar, with a key index tracking the greenback’s strength falling 0.2% to its lowest level in a week.

This reversed the earlier gains spurred by Trump’s tariff announcements on Mexico, Canada, and China, which had initially boosted demand for defensive assets.

Meanwhile, the yen held steady after strengthening against the dollar in the previous session, as hedge funds showed fresh demand for the Japanese currency amid volatility in global currency markets.