BANGKOK — Stocks advanced in Asia on Wednesday after a wobbly day on Wall Street, when the S&P 500 gave back most of its gains from a day earlier.
Hong Kong led the advance, gaining 2.4%. Tokyo, Seoul, Shanghai and Sydney also were higher.
Investors have taken heart from an easing in bond prices that has alleviated worries over possible interest rate hikes. Bond yields have eased and the yield on the 10-year Treasury inched down to 1.40% early Wednesday.
But expectations for stronger economic growth in coming months continue to fuel worries that interest rates will head higher.
“It feels like we are in the eye of the storm,” Stephen Innes of Axi said in a commentary. Investors have recently focused on selling high-priced technology shares but are also watching for policy changes as President Joe Biden’s $1.9 billion stimulus package heads into the Senate after narrowly passing in the…
