Asian market rallies on Wednesday tracking strong gains of the U.S. overnight.
The CSI300, HSI, KOSPI and TOPIX are up by 0.21%, 1.75%, 0.50% and 0.93% respectively.
The S&P 500 overnight climbed supported by technology stock’s intraday recovery as well as financial stocks on rising treasury yields.
The S&P 500 rose 0.8%, the Dow Jones Industrial Average added 1%, or 372 points, the Nasdaq added 1.3%.
The United States 10-Year yield briefly jumped to 1.97%, its highest level since August 2019, supported by ongoing bets for the Federal Reserve to tighten monetary policy aggressively to curb inflation.