MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%, led by gains in tech-heavy South Korean shares and Taiwanese shares. "The markets are focusing on when the Fed will raise rates next time or the pace of its rate hike, so the tone of Fed Chair Janet Yellen will be closely watched," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management. U.S. interest rate futures are pricing in about a 50% chance of another rate hike in June. A break of those previous peaks in major bond yields could spark a fresh sell-off in global bond markets. The talk of ECB rate hike, even though it is still seen as a remote possibility, helped to lift the euro.

Source: The Edge Markets March 13, 2017 02:37 UTC