{
  "id": 2292591,
  "title": "Asian markets extend rally as traders assess US Treasuries pledge",
  "url": "https://urgent.news/2026/08/21/asian-markets-extend-rally-as-traders-assess-us-treasuries-pledge-2292591",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-21T03:22:00.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/asian-markets-extend-rally-traders-assess-us-treasuries-pledge-6332391"
  },
  "original_language": "en",
  "account": "Asian stock markets experienced a slight upward trend on Friday (Aug 21) as traders evaluated the United States Treasury's decision to reduce long-term bond yields. Treasury Secretary Scott Bessent's assurance that he possessed additional support tools did little to alleviate concerns in US markets, as skeptical Wall Street investors continued to sell amid worries about high inflation and government borrowing.\n\nThe Strait of Hormuz, which has been closed off, added to the unease in trading centers, while oil prices have been steadily increasing over the past two weeks due to the ongoing standoff between the United States and Iran. The US Treasury announced earlier on Wednesday that it intended to at least double its bond buybacks, following a surge in the 30-year yield reminiscent of levels seen in 2007 before the global financial crisis. This action provided a much-needed lift to markets, but the impact was short-lived as rates rose again on Thursday.\n\nMark Malek, from Muriel Siebert & Co, referred to the recent move as a \"housekeeping move destined to be short-term, at best.\" Bessent stated that his department had a \"big toolkit\" available to tackle the rising yields, which he believes are not grounded in current financial conditions. He also suggested that the yields do not accurately mirror the underlying fundamentals. Bessent added that inflation, which has remained above the Federal Reserve's 2% target for over five years, would start to ease once the US recovers from the Iran conflict and oil prices fall.\n\nThe increase in yields negatively affected Wall Street, with all three major indices declining as tech companies, which depend on debt for their substantial investments, experienced declines. However, Asia fared better, with tech-centric Seoul boosted by a rally in chipmakers Samsung and SK hynix, with the latter announcing a potential US$79 billion share buyback. Hong Kong, Singapore, Wellington, and Taipei also rose, while Tokyo, Sydney, and Shanghai fell.\n\nTraders are closely monitoring Fed Chair Kevin Warsh's upcoming speech at the annual meeting in Jackson Hole, as he provides insights into the central bank's plans. Economists and finance chiefs are eagerly awaiting clarification on monetary policy to reduce uncertainty on trading floors.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "Asian markets extend rally as traders assess US Treasuries pledge",
        "url": "https://urgent.news/2026/08/21/asian-markets-extend-rally-as-traders-assess-us-treasuries-pledge-2289202",
        "published": "2026-08-21T03:22:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}