Asian shares climb as US rate cut fever lingers, oil holds gains

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Key Points

SYDNEY (Reuters) Asian shares tracked Wall Street higher on Wednesday as U.S. rate cut fever lingered, while oil held on to gains from the past two days after Houthi militants attacks on ships in the Red Sea disrupted maritime trade...

The yen nursed losses near a one-week trough and Japanese yields extended declines after the Bank of Japan held policy steady and gave no sign of when it might end negative interest rates, further aiding risk appetite...

The yen was pinned at 143.66 to the dollar, after an overnight drop of 0.8% and benchmark ten-year yields fell another 7.5 basis points to 0.56%, the lowest since early August...

Analysts at JPMorgan expect a more challenging macro backdrop for share markets next year as a recent disinflationary trend should become a major headwind for corporate margins, adding that they favour cash and bonds...

A reduction in commodity product crossings of Suez may drive a bifurcation in oil, refined oil and other commodities between Asian and Atlantic basin markets, and potentially more volatility in prices, said Chris Rogers, head of supply chain research at S&P...

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