Tokyo — MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2% in early trade on Wednesday, bouncing back from a four-month low touched the previous day. Asian shares won the reprieve from a rally in Wall Street shares as the sell-off in global bonds and sharp gains in the dollar paused for now. Japan’s Nikkei rose 1.0% to nine-month high thanks to the fall in the yen against the dollar. On Wall Street, the Dow Jones industrial average rose 0.29% to a record high while the S&P 500 gained 0.75%. Since Donald Trump’s unexpected victory in the US presidential election last week, US shares have rallied while US bond prices have tumbled, pushing up their yields sharply, as investors expect higher inflation under his presidency. His plans to cut taxes and boost infrastructure spending would boost demand while his proposals to deport illegal immigrants and impose tariffs on cheap imports, if implemented, are expected to push up prices. "The markets are having a bit of a pause...
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