Sydney — Asian stocks bounced to one-week highs on Wednesday as investors tried to share in the exuberance of Wall Street’s record run, while lofty US bond yields favoured the dollar at the expense of emerging-market currencies. Spread-betters pointed to opening gains for European bourses, while E-mini futures for the S&P 500 held near record peaks ahead of the release of minutes of the Federal Reserve’s last policy meeting. With Japan on holiday, Australia’s main index led the action in Asia with a rise of 1.35% to a one-month top helped by strength in bulk commodity prices. China’s blue-chip CSI300 index advanced 0.5% to an almost 11-month peak as the yuan touched its lowest in six years. MSCI’s broadest index of Asia-Pacific shares outside Japan also added 0.6%, edging further away from four-month lows hit on Monday. Emerging markets have struggled in recent days as surging US bond yields sucked much-needed capital out of Asia. President-elect Donald Trump’s past talk of trade ta...
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