{
  "id": 2301385,
  "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-2301385",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-21T04:05:10.000Z",
  "source": {
    "name": "The Jakarta Post",
    "slug": "the-jakarta-post",
    "url": "https://www.thejakartapost.com/business/2026/08/21/asian-markets-extend-rally-as-traders-assess-us-treasuries-pledge.html"
  },
  "original_language": "en",
  "account": "Asian markets continued their upward trend as traders evaluated the United States Treasury's pledge to increase its sovereign bond buybacks. This move was intended to lower long-term bond yields. The lack of progress in reopening the Strait of Hormuz added to market concerns, with oil prices gradually increasing over the past two weeks as the United States and Iran remained at an impasse. US stocks saw a slight rise on Friday as investors considered the Treasury's actions, but analysts cautioned that this alone would not suffice to prevent borrowing costs from escalating. Treasury Secretary Scott Bessent's assurance that he had more tools to provide support was not enough to reassure US markets, as Wall Street investors continued to sell their shares due to worries about high inflation and government borrowing. The Treasury's pledge to double its bond buybacks, announced the previous day, initially sent long-term rates plummeting. However, they climbed back up on Thursday, with Mark Malek of Muriel Siebert & Co describing it as a \"housekeeping move destined to be short-term, at best.\" Bessent stated that his department possessed a \"big toolkit\" to handle rising yields, which he believes are not justified by the underlying financial conditions. He emphasized that inflation, which has remained above the Federal Reserve's 2% target for over five years, would decrease once the United States resolves the Iran conflict and oil prices decline. The rise in yields negatively impacted Wall Street, where all three major indices fell as tech companies, which depend on debt for their substantial investments, suffered losses. However, Asian markets performed better, with tech-focused Seoul benefiting from a rally in chipmakers Samsung and SK hynix. Samsung announced a potential $79 billion share return following a $29 billion buyback. Hong Kong, Singapore, Wellington, and Taipei also experienced gains, although Tokyo, Sydney, and Shanghai saw declines. The yen strengthened against the dollar after Japan's inflation rose last month due to higher oil prices from the Middle East crisis, providing the Bank of Japan with the opportunity to increase interest rates next month. Analysts suggest that the yield spike is attributed to several factors, including the increased government spending commitments in the US and Europe, the growing demand for AI infrastructure, and the prospect of corporate bond issuers raising up to $500 billion. Fed Chair Kevin Warsh's failure to offer guidance on the bank's plans added to the uncertainty on trading floors, with traders eagerly awaiting his speech at the upcoming Jackson Hole gathering.",
  "summary": "The lack of progress on reopening the Strait of Hormuz added to unease on trading floors, with oil prices gradually rising over the past two weeks as the United States and Iran remain deadlocked.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Malay Mail",
        "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-2288759",
        "published": "2026-08-21T03:31:09.000Z"
      }
    ]
  },
  "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."
}