Asian markets saw an uptick on Tuesday, inspired by positive trends on Wall Street, with anticipation building around the upcoming quarterly earnings from major U.S. tech companies.
Despite these gains, the strength of the U.S. dollar continued to weigh on the Japanese yen, driving it to the lowest level in 34 years.
The MSCI’s broadest index of Asia-Pacific shares outside Japan climbed by 0.5%, supported by a 1% increase in Taiwanese stocks and a 0.8% rise in Hong Kong’s Hang Seng index.
This index had already improved by 1% the previous day, buoyed by diminishing concerns of a severe escalation in Middle Eastern conflicts, helping to offset a 3.7% decline from the previous week. Meanwhile, Japan’s Nikkei marginally increased by 0.1%.
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Risk aversion decreased on Monday, with the Dow Jones Industrial Average climbing 253.58 points, or 0.67%, to 38,239.98. The S&P 500 advanced 43.37 points, or 0.87%, to 5,010.60, and the Nasdaq Composite increased by 169.30 points, or 1.11%, to 15,451.31.
In the bond market, the yield on the 10-year U.S. Treasury note slightly decreased by 0.2 basis points, finishing at 4.61%. Conversely, the yield on the 30-year bond edged up by 0.6 basis points to 4.7168%.
