TOKYO : Stocks in Asia rose on Monday while Treasuries and the dollar kept their composure, as investors took their lead from Wall Street’s Friday rally, shrugging off a Moody’s downgrade to the U.S. credit outlook.
Tech stocks stood out, as they had in the U.S. at the end of last week, after the calming of long-term Treasury yields since the start of this month boosted the outlook for borrowing-dependent growth shares.
U.S. 10-year Treasury yields were stable at around 4.646 per cent, consolidating around the top of their range since Nov. 3, when softer labour market data spurred bets for a less hawkish Federal Reserve. The yield had been as high as 4.935 per cent on Nov. 1.
