China helped Asian stocks rise from 11-month lows on Wednesday as investors cheered the approval of a trillion-yuan sovereign issue as a harbinger of stimulus, while the Aussie dollar jumped after hotter-than-expected inflation lifted rate forecasts.
MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), which hit its lowest since last November on Tuesday, rose 0.6% and the Hang Seng (.HSI) climbed more than 1%. Japan’s Nikkei (.N225) rose 1.2%.
U.S. Treasuries held onto a bounce-back after the 10-year yield breached 5% on Monday, with the benchmark yield firm at 4.82%.
Read the full story on Reuters here