Asian shares to record first monthly loss on bond rout

While Asian share markets performed positively on Wednesday, they were still on track for their first monthly decline since October. The U.S. dollar, on the other hand, reached high grounds as investors’ enthusiasm was fueled by the prospect of a stable global economic recovery.

MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4%, marking a one-week high record of 682.36 points. The latest session had placed the index near its all-time peak of 745.89 seen last month.

The dollar index remained above 93, and it has climbed near 90 to tally its best monthly performance since 2016.

Investors’ sentiment was supported by hopes that the global economy would recover faster than what was expected, prompting them to withdraw from safe-haven bonds. In turn, an increase in yields brought concerns for equity investors.