Asian Stocks Rise for a Third Day, Led by Taiwan and Korea, as Japanese and Australian Bond Yields Climb

MSCI's broadest index of Asia-Pacific shares rose 1.5 percent on Wednesday, Nov. 11, its third straight daily gain, Reuters reported. Taiwan's market rose 3.6 percent and South Korea's 2.6 percent. Japan's Nikkei rose 1.3 percent.

In Tokyo afternoon trading, Hong Kong's Hang Seng was down 0.8 percent and the Shanghai Composite was down 0.2 percent, Bloomberg reported. Australia's S&P/ASX 200 was up 0.2 percent and Japan's broader Topix 0.8 percent.

TSMC

Taiwan Semiconductor Manufacturing's October revenue was nearly six times its level a year earlier, and its shares rose 3.1 percent in Taiwan, the AP reported. The company said on Tuesday that its board had approved an investment of up to $1 billion in Anthropic and OpenAI.

Europe

The STOXX 600 was up 0.4 percent at 0924 GMT, within reach of its August record high, Reuters reported. In early trading, France's CAC 40 rose 0.6 percent to 8,331.94 and Britain's FTSE 100 rose 0.7 percent to 10,825.97, according to the AP.

U.S. stock futures were higher in the European morning. Nasdaq futures were up 1.6 percent and S&P 500 futures 0.7 percent, Reuters reported. Those are futures prices, not closes.

Bonds

Japan's 10-year government bond yield rose 10 basis points to 2.793 percent, Reuters reported. The U.S. 10-year Treasury yield ended Tuesday at about 4.99 percent, Kiplinger reported. The U.S. market is closed on Wednesday for Veterans Day, so the Treasury figure is Tuesday's.

Australia's 10-year yield rose 6 basis points to 5.05 percent, above the U.S. level. Germany's 10-year yield was about 3.3 percent, little changed.

The Australian dollar steadied after falling nearly 0.9 percent on Tuesday. Traders are betting that the Reserve Bank of Australia has finished tightening after five increases this year and will cut rates in 2027, Reuters reported.

The dollar

The dollar index rose 0.2 percent to 102.45 on Wednesday, after a 0.5 percent gain on Tuesday, Reuters reported. In Tokyo afternoon trading, the dollar bought 158.83 yen and the euro was at about $1.1165, Bloomberg reported.

Spot gold rose 0.4 percent to $4,049 an ounce on Wednesday morning after falling 2.6 percent on Tuesday, according to Reuters.

Japan's 10-year yield moved 10 basis points on Wednesday while the U.S. 10-year did not trade at all. Treasury trading resumes on Thursday, when the U.S. Treasury sells $25 billion of 30-year bonds.