SINGAPORE -Asian stocks made their biggest gains in a month on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook.
Analysts do not expect dramatic new sanctions on oil from Iran, which comprises about 3% of global output. U.S. short-term interest rate expectations were little changed but selling of longer-dated bonds abated, and Asia's bond markets rallied on Thursday. Ten-year Japanese government bond yields fell 2 basis points to 0.86%.
"I believe are small pullbacks from extended moves," said Anshul Sidher, global head of markets at ANZ in Singapore, adding traders are closely watching bonds and the dollar to drive the mood.Taiwanese chipmaker TSMC turned in a positive surprise, beating market estimates with a 9% rise in profit as it rides a wave of artificial-intelligence led demand.
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