- Asian stocks rose alongside US futures as investors focused on the possibility of the Federal Reserve reversing its policy tightening campaign rather than additional stress among regional American banks.
- Hong Kong stocks began higher, while Australian stocks recovered after a morning dip, tracking advances in US futures after New York benchmarks closed lower Thursday. Japan and South Korea's stock exchanges were closed for the holiday.
- The Asian share index is on track for its best week in five, led by a 1.1% rise in the banking sector. The rise suggests that lenders in the region are relatively immune to the banking upheaval in the US, which has pulled bank stocks down by more than 10% this week.
- The 10-yr Treasury rate increased on Wednesday, while yields in Australia and New Zealand were roughly steady on Friday. Treasuries will not trade during Asian hours due to the Japanese holiday.
- Another unnerving round of trading halts hit US lenders such as Western Alliance Bancorp, PacWest Bancorp, and First Horizon, intensifying the rout that bolstered safe havens such as the yen and gold.
