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Wednesday, 21 October 2026

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Asian Stocks Rise as Strong Earnings Lift Sentiment, but Oil and Rates Stay in Focus

Asian stocks advanced as strong US corporate earnings supported sentiment, although high oil prices and Treasury yields continued to shape the market outlook.

By Bernard Lee4 min read

Singapore, 21 October 2026 – Asian equities advanced on 21 October as strong US corporate earnings helped restore investor confidence after recent market volatility. The MSCI Asia-Pacific index outside Japan rose 1.5%, led by a 4% gain in South Korean shares, while Japan’s Nikkei 225 climbed 1.3%. With 13% of S&P 500 companies having reported, 86% had beaten earnings expectations, according to LSEG data.

For Asian investors, the rebound is encouraging but does not remove the main risks facing markets. Elevated oil prices, US Treasury yields above 5% and continuing concerns over the cost of artificial intelligence investment are still shaping capital flows and valuations across the region.

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Author

  • Bernard is a social activist dedicated to championing community empowerment, equality, and social justice. With a strong voice on issues affecting grassroots communities, he brings insightful perspectives shaped by on-the-ground advocacy and public engagement. As a columnist for The Ledger Asia, Bernard writes thought-provoking pieces that challenge norms, highlight untold stories, and inspire conversations aimed at building a more inclusive and equitable society.