Asia-Pacific markets rebounded and erased earlier losses as investors assess private surveys of business activity from Japan and Australia, as well as the October producer price index from South Korea.
In Australia, the S&P/ASX 200 gained 0.19%, recovering from three straight days of losses and finishing at 6,856.9.
Japan’s Nikkei 225 rebounded as well and climbed 0.2% to end at 31,062.35, and the Topix closed marginally up at 2,240.73 as the October purchasing managers index flash reading saw its first contraction since December 2022.
South Korea’s Kospi closed 1.12% up at 2,383.51, ending a three-day losing streak, while the Kosdaq surged 2.77% to 784.86.
This comes after the country’s producer price index climbed at a faster pace of 1.3% year-on-year in September, compared to 1% in August.
Mainland Chinese markets rebounded, with the CSI 300 index gaining 0.37% and finishing at 3,487.13, snapping four straight days of losses.
Hong Kong’s Hang Seng index came back from a holiday and was 0.89% lower in its final hour of trade.
Overnight in the U.S., the Nasdaq Composite snapped four days of losses as Treasury yields retreated from their highs and traders looked ahead to the release of corporate earnings from tech industry giants.
The benchmark 10-year Treasury note yield briefly climbed back above the key 5% level before ticking down. It was last trading at about 4.85%.
The tech-heavy index added 0.27%, but the Dow Jones Industrial Average slipped 0.58%, and the S&P 500 fell 0.17%.
