Asian markets were cautiously higher Wednesday, after a volatile session for US equities and as yields on Treasury bonds retreated from a seven-year peak.
Tokyo edged up, ending a four-day losing run on bargain buying despite the higher yen's dampening impact. "After four days of falling… Japanese shares are in a good place for bargain-hunting buys," Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary.
Hong Kong added 0.1 percent while Shanghai closed 0.2 percent higher, both moving back into positive territory for a second day after Monday's sell-off. There were also gains in Mumbai, with markets leaping 1.5 percent after closing at a six-month low on Tuesday, and aviation stocks seeing a boost after domestic media reports that New Delhi may reduce a jet fuel tax.
"(Indian) markets will continue to be volatile in the coming days and will offer great long-term buying opportunities," Soumen Chatterjee, head of research at Guiness Securities, told Bloomberg News. There were gains in other Asian markets, with Taiwan up 0.1 percent, Sydney adding 0.1 percent and Bangkok rising 1.1 percent.
---AFP, Hong Kong
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