Asian Stocks Climb as US Treasury Yields Stabilize and Oil Prices Drop

Asian stocks posted gains early Friday as easing US Treasury yields provided relief to investors following a week of turbulence due to rising US government debt concerns. The yield on the 10-year Treasury dropped by 0.6% to 4.52%, while the two-year yield, more indicative of Federal Reserve actions, decreased by 0.4% to 3.98%.

Meanwhile, oil prices declined on speculation that the OPEC+ group may increase output at their next meeting. US benchmark crude oil was down 51 cents to $60.69 per barrel, and Brent crude declined by 51 cents to $63.93 per barrel. This downward trend in oil prices is a response to anticipated production hikes by major oil-exporting countries.

In the stock markets, Tokyo's Nikkei 225 gained 0.8% to reach 37,289.60 in response to the highest core inflation rate reported since early 2023. Analysts suggest this may prompt the Bank of Japan to consider raising its benchmark interest rate, although US tariff pressures could constrain its monetary policy moves, according to Min Joo Kang of ING Economics.

(With inputs from agencies.)