Asian Shares Rise As Bond Yields Dip

(RTTNews) - Asian stocks rose broadly on Thursday as trade war fears eased and Treasury yields dipped on easing inflation concerns.

Overnight data showed a larger-than-expected drop in U.S. job openings for December, leading to renewed hopes for a favorable outlook on interest rates.

A softer dollar underpinned base metal prices and gold steadied near record high levels while oil prices recovered some ground after falling nearly 2 percent in the previous session.

China's Shanghai Composite index rallied 1.27 percent to 3,270.66 on eased concerns over a potential global trade war.

The US Postal Service (USPS) has resumed accepting parcels from mainland China and Hong Kong, reversing a brief suspension triggered by new trade measures introduced by U.S. President Donald Trump.

Hong Kong's Hang Seng index jumped 1.43 percent to 20,891.62 after forecasts of high capital spending on artificial intelligence from Wall Street's biggest firms.

Japanese markets extended gains for a third consecutive session, led by heavyweights and technology stocks.

The Nikkei average climbed 0.61 percent to 39,066.53 amid volatility and currency pressures on speculation over BoJ rate hikes. The broader Topix index settled 0.25 percent higher at 2,752.20.

Fast Retailing, the operator of Uniqlo, advanced 1.8 percent. Nissan Motor soared 7.3 percent after reportedly notifying Honda of its intent to end merger talks. Honda Motor shares tumbled 4 percent.

In the tech sector, Advantest and SoftBank both rose about 1 percent while Tokyo Electron surged 2 percent and Screen Holdings jumped 4.1 percent.

Seoul stocks gained for a third straight session, with top-cap tech shares leading the surge.

Semiconductor leaders Samsung Electronics and SK Hynix climbed 2.1 percent and 2.4 percent respectively, while the Kospi average finished 1.10 percent higher at 2,536.75.

Australian markets ended sharply higher, adding to gains from the last two sessions. The benchmark S&P/ASX 200 rose 1.23 percent to 8,520.70, ending just off a record high on optimism for a rate cut in February.

The broader All Ordinaries index closed up 1.17 percent at 8,785.10, driven by strength in financial stocks. Banks National Australia Bank, Commonwealth Bank of Australia and Westpac all ended up over 2 percent.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index dropped 0.47 percent to 12,844.59.

U.S. stocks ended a choppy session slightly higher overnight while the dollar eased, and Treasury yields dropped to their lowest level since mid-December after the release of lackluster earnings from tech giants like Alphabet and Advanced Micro Devices and mixed economic data.

Private sector employment increased in January and annual pay was up again year-over-year, while activity in the U.S. services sector eased in January and record high imports pushed the U.S. trade deficit sharply wider in December, separate reports revealed.

The Dow climbed 0.7 percent, the S&P 500 edged up 0.4 percent and the tech-heavy Nasdaq Composite gained 0.2 percent.