Asian Stocks Climbs Sharply Tracking Gains of Wall Street Overnight

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.