Asian markets opened higher, following Wall Street's rebound. The Nikkei and Kospi jumped around 1% at the open, while US stock futures fluctuated after the Nasdaq 100 rose 0.7% and the S&P 500 gained 0.4%. In the bond market, the 10-year US Treasury yield held steady at around 4.15%. Oil stabilized after two days of declines, and shares of several US retailers rose as a US Supreme Court appearance that appeared skeptical of broad tariffs raised hopes that tariffs could be lifted.

The return of buyers came after a brief decline that fueled concerns about overvaluation. Private data provided encouragement: ADP showed US companies added jobs in October, and the ISM Services Index rose to an eight-month high thanks to a surge in new orders. "For those holding cash on the sidelines, this decline looks like a buying opportunity, especially if the horizon is long," said Robert Edwards (Edwards Asset Management), noting that profit growth remains strong.

Tariffs are in focus: US Supreme Court justices have cast doubt on the legality of the broad tariff policy, and some analysts expect a ruling to be issued in December–January. If the tariffs are overturned, some market participants warn that long-dated bonds are vulnerable to corrections as the deficit outlook could worsen. Signals of larger US bond auctions and economic resilience also reduce the likelihood of a Fed rate cut in December.

In Asia, China returned to global markets and raised US$4 billion in dollar bonds. On the equity side, the mood eased after the turmoil that pressured several tech giants. Concerns about narrowing breadth and high valuations persist, but the "buy the dip" pattern is holding back losses. In commodities, gold strengthened on Wednesday as markets weighed US employment data and the Fed's policy direction, while oil remained flat. (az)

Source: Newsmaker.id