Asian shares shine on U.S. tech results, ECB hopes
By Lisa Twaronite
Sentiment also got a lift from a Reuters report that the ECB is considering buying corporate bonds, a step that would help banks free up more of their balance sheets for lending. The ECB might decide on the matter as soon as December with a view to begin purchases early next year, several sources familiar with the situation said.
In U.S. trading, shares of Apple Inc and Texas Instruments Inc gained on stronger-than-expected quarterly earnings, lifting the tech-heavy Nasdaq Composite index more than 2 percent. The S&P 500 added 1.96 percent to mark its biggest daily percentage gain since October 2013 and its fourth straight rising session.
The upbeat mood in global equities markets sapped the safe-haven appeal of U.S. Treasuries, pushing their yields away from last week's 17-month lows. The yield on benchmark 10-year U.S. Treasury notes stood at 2.211 percent in late Asian trade, up from Tuesday's U.S. close of 2.208 percent.
Higher U.S. yields supported bolster the greenback, with the dollar index steady on the day at 85.301.
Data on Tuesday showing a stronger-than-expected 2.4 percent rise in U.S. domestic home resales last month provided evidence that the U.S. economic recovery maintained momentum and also put upward pressure on yields.
"Our thesis of USD outperformance driven by relative U.S. strength and interest rate divergence remains intact, but is at risk of delay pending soft underlying inflation trends."
The CPI report is due at 1230 GMT. Economists expect annual core CPI inflation to stay flat at 1.7 percent in September, and a cooler reading would add to speculation that the Federal Reserve will wait longer before raising interest rates.
In commodities markets, Brent crude added about 0.1 percent to $86.31 a barrel after posting solid gains on Tuesday, helped by data showing stronger-than-expected China demand and some technical price recovery after weeks of almost uninterrupted selling.
Spot gold was slightly lower on the day at $1,247.80 an ounce, but still not far from a six-week high marked in the previous session.