HONG KONG : Gains in banks, energy and mining stocks lifted Asian equities a little higher on Tuesday as investors braced for aggressive U.S. rate hikes and war disrupting oil supplies.The yen fell through the key 120 level against the dollar for the first times since 2016 and Treasuries extended losses after U.S. Federal Reserve Chairman Jerome Powell on Monday flagged a more aggressive tightening of monetary policy than previously anticipated.
Powell had sparked a bond rout overnight after he told the National Association for Business Economics the U.S. central bank was prepared to do what it takes to combat inflation and that bigger-than-usual hikes would be deployed if needed. China's blue chip index opened 0.2per cent lower while Hong Kong's benchmark Hang Seng Index rose 0.7per cent.