Asia shares hit 15-month high as traders wait for CPI

A visitor using his smartphone takes photos of an electronic screen displaying Japan's Nikkei share average, which surged past an all-time record high scaled in December 1989, inside a building in Tokyo, Japan February 22, 2024. REUTERS/Issei Kato/File PhotoSINGAPORE, May 14 - Benchmark 10-year Japanese government bond yields rose one basis point to 0.95%, the highest yield since November, and five-year Japanese yields hit 0.555%, the highest since 2011.

"If there was a fourth consecutive upside surprise, that would probably influence the path of future short term interest rates," said Nick Ferres, chief investment officer at Vantage Point Asset Management in Singapore. "Some of my clients are asking me every day what to buy, when to buy because they still have an underweight position in Hong Kong stocks," said Steven Leung, executive director at brokerage UOB Kay Hian in Hong Kong.U.S. Treasuries were steady in Asia trade to leave 10-year yields at 4.49% and two-year yields at 4.86%.

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