Asian stocks rise and US treasury yields approach four-month highs
The broader equity markets are able to regroup now that the latest phase of the US-China trade war is over, one Tokyo analyst says
Tokyo — Asian stocks rose across the board and long-term US treasury yields hovered near four-month highs on Wednesday with investors looking past the latest escalation in the US-China trade feud, seen by some market participants as less severe than expected. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7%. Hong Kong’s Hang Seng was up 1.1% and the Shanghai Composite Index rose 1% following a surge of 1.8% the previous day. Australian stocks added 0.45%, South Korea’s Kospi dipped 0.2% and Japan’s Nikkei rose 1.5%. Wall Street shares posted a broad-based rally on Tuesday amid emerging views that the US-China trade dispute’s effect on world growth might not be as severe as previously feared. "The broader equity markets are able to regroup now that the latest phase of the US-China trade war is over," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo. "There was relief as the US set the initial tariffs at 10%, rather than the ex...
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