Asian shares, U.S. yields rise as investors reassess rout

shares investors asian yields rout
Gulf

Asian shares, U.S. yields rise as investors reassess rout

SHANGHAI - Asian shares and U.S. Treasury yields rose on Wednesday, clawing back some of the week's losses as investors reassessed economic worries, but the dollar was firm on concerns over the impact of a fast-spreading coronavirus variant. Rising COVID-19 infections have rocked global markets this week as investors dumped risk assets, seeking stability in safe haven assets like bonds. That sent stocks tumbling and pushed the benchmark U.S. 10-year yield to five-month lows on Tuesday. But on Wednesday, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.17%, trimming its losses for the week to around 2%, while Japan's Nikkei rose 0.90% after touching six-month lows a day earlier. Sentiment in Japan was supported by a jump in exports in June, led by U.S. demand for cars and China-bound shipments of chip-making equipment, boosting hopes for an export-led recovery. Australian shares were up 1.21%, Chinese blue-chips added 0.76% and Taiwan shares rose 0.27%. Seoul's KOSPI slipped 0.14% as South Korea reported a daily record of novel coronavirus cases. "The level of volumes, the level of sporadic whip-saw price action I think is telling you that there's not a lot of conviction one way or another," said Kay Van-Petersen,