A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
strong U.S. economic data
The S&P 500 and Nasdaq both rose more than 1% - the Nasdaq's 1.65% rise was its biggest in a month - as investors latched onto the 'good news is good news' narrative and took the spike in bond yields as a reflection of the economy's strength rather than a threat to earnings and growth. Asian exchange rates will be under the spotlight, however, with traders wary of more warnings and action from some policymakers over the speed with which their currencies are falling.
Together with the central bank's stronger-than-expected trading band for the yuan, this is the strongest sign yet the authorities are growing increasingly uncomfortable with the yuan's quickening slide.
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