(Bloomberg) -- Stocks in Asia look set to round out two strong weeks on a high after U.S. equities climbed to fresh records and concerns surrounding trade tensions eased. Treasury yields held near the highest level this year, while the dollar slipped.

Futures on equity indexes in Japan, China, Hong Kong and Australia all rose. Emerging market assets continued to rally from recent lows. The sell-off in sovereign bonds has steadied in the past two days following this week’s rise above 3 percent for 10-year yields, something equity investors are taking in their stride amid optimism over earnings and economic growth.

With a Federal Reserve interest-rate hike all but baked in to investor expectations for next week, the solid U.S. economy coupled with some clarity over the next developments in the trade war have helped boosted sentiment in markets this week. Also buoying risk appetite is a rally in emerging market assets from stocks to currencies, with some investors buying back in after the rout.

Elsewhere, West Texas crude dropped after U.S. President Donald Trump resumed his criticism of OPEC on Twitter. The Organization of Petroleum Exporting Countries and its allies are due to meet in Algiers this weekend. The pound surged after August retail sales came in higher than expected.

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These are the main moves in markets:

Stocks

  • Futures on Japan’s Nikkei 225 rose 1 percent in Singapore.
  • Futures on Hong Kong’s Hang Seng Index advanced 0.7 percent.
  • FTSE China A50 Index futures rose 0.4 percent.
  • Futures on Australia’s S&P/ASX 200 Index gained 0.4 percent.
  • The S&P 500 Index gained 0.8 percent. The Dow Jones Industrial Average rose 1 percent.
  • The MSCI Emerging Market Index jumped 0.6 percent to the highest in more than two weeks.

Currencies

  • The yen was steady at 112.49 per dollar.
  • The offshore yuan held at 6.8357 per dollar.
  • The Bloomberg Dollar Spot Index decreased 0.4 percent.
  • The euro bought $1.1775.
  • The British pound was at $1.3271 after rising 0.9 percent.

Bonds

  • The yield on 10-year Treasuries held at 3.06 percent, the highest in more than four months. That’s 20 basis points higher than where it began September.

Commodities

  • The Bloomberg Commodity Index rose 0.6 percent.
  • West Texas Intermediate crude fell 0.6 percent to $70.32 a barrel.
  • LME copper fell 0.6 percent to $6,082 a metric ton.
  • Gold was flat at $1,207.26 an ounce.

To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.net

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Rebecca Jones

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