Global stocks steadied on Thursday as Japanese shares led gains across Asia following a strong government bond auction that eased pressure in fixed income markets, while the US dollar recovered from a five-week low. The Nikkei 225 climbed 2.2 per cent, boosted by a near 12 per cent surge in Fanuc Corp, though MSCI's Asia-Pacific index outside Japan was flat amid declines in Korea and New Zealand. Early European trade showed continued momentum, with pan-region and German DAX futures up 0.6 per cent and FTSE futures rising 0.31 per cent. Tokyo's latest 30-year bond sale drew the strongest demand in more than six years, calming markets after a recent selloff pushed long-dated yields to record highs. The yield on the 30-year Japanese government bond eased to 3.38 per cent. The dollar rose 0.1 per cent to 155.32 yen after reports suggested the Bank of Japan may raise interest rates in December. US market momentum faded in Asia, though expectations for a Federal Reserve rate cut next week strengthened following weaker-than-expected data. Wall Street closed higher on Wednesday, with the Russell 2000 up 1.9 per cent and the S&P 500 extending gains. The US dollar index edged up 0.1 per cent to 98.99, while the US 10-year Treasury yield rose to 4.083 per cent after concerns surfaced about future Fed policy under potential new leadership. In currencies and commodities, the offshore yuan dipped 0.1 per cent, the Australian dollar firmed on strong spending and trade figures. Attribution: Reuters
