Asian stocks rose on Thursday, partially reversing a sharp selloff after stronger-than-expected US economic data boosted investor confidence. Japan's Nikkei gained 1.4 per cent and South Korea's Kospi added 0.8 per cent following steep losses the previous session, while MSCI's broadest Asia-Pacific index outside Japan climbed 0.76 per cent. US data showed services sector activity reached an eight-month high in October and private payrolls rose 42,000, easing concerns over the labour market. Wall Street rebounded overnight as technology stock jitters subsided and corporate earnings remained upbeat. Higher US Treasury yields supported the dollar near a five-month peak, with the 10-year yield at 4.1473 per cent and the two-year at 3.6213 per cent, while futures for the S&P 500 and Nasdaq edged lower. Traders now price in a 61 per cent chance of a Fed rate cut in December, down from 70 per cent earlier. In China, the Shanghai index reclaimed 4,000 points, boosted by optimism in technology, semiconductors, and AI-related shares. Attribution: Reuters
