Market Uncertainty Persists Amid Surging U.S. Yields and Dollar Strength

Asian shares declined as U.S. Treasury yields and the dollar remained elevated due to election uncertainty. Tesla's strong earnings offered some relief. Nasdaq and S&P futures rose slightly, while major Asian indices showed mixed results. Rising bond yields continued impacting markets, and oil and gold fluctuated.

Asian shares took a hit on Thursday amid rising U.S. Treasury yields and a strong dollar, driven by uncertainty surrounding the U.S. election outcome. Despite the market tension, Tesla provided some reassurance with its forecast-exceeding earnings.

The mix of higher Treasury yields and election concerns limited risk sentiment, compounded by speculations of Donald Trump's return to the White House. Tesla's shares surged 12% following impressive third-quarter results and positive sales forecasts for the next year.

While S&P 500 and Nasdaq futures slightly increased, Asian markets displayed a varied performance. Key indices like Hong Kong's Hang Seng and China's blue chips experienced declines, whereas Tokyo's Nikkei regained some ground. Bond yields and oil prices fluctuated, contributing to ongoing market volatility.

(With inputs from agencies.)