TOKYO – Asia-Pacific bond yields followed US Treasury yields higher on Wednesday and the dollar continued its climb after Federal Reserve officials signaled they are nowhere near done raising interest rates.

Stocks in Asia rose, despite the slide on Wall Street overnight.

Japan's Nikkei gained 0.5 percent, rebounding from Tuesday's two-week closing low, while Hong Kong's Hang Seng gained 0.76 percent.

A trio of Fed policymakers signaled on Tuesday that there would be no let up in the tightening campaign aimed at taming the highest inflation since the 1980s, even though it will take rates to a level that will more significantly curb economic activity. 

Two of them, San Francisco Fed President Mary Daly and Chicago Fed President Charles Evans, are widely regarded as doves.

Traders now see a chance of about 44 percent that the Fed will hike by another 75 basis points at its next meeting in September.

Benchmark long-term Treasury yields were around 2.71 percent in Tokyo, not far from the overnight high of 2.774 percent following a 14 basis point surge.

The dollar-yen rate , which tends to closely track US yields, jumped 0.3 percent to 133.57, extending Tuesday's 1.2 percent surge.

The US dollar index , which gauges the currency against the yen and five other major peers, was 0.04 percent higher at 106.41, after rebounding 1 percent overnight following its slide to a nearly one-month low at 105.03.

Gold edged 0.13 percent higher to $1,762.09 per ounce, but following a 0.68 percent retreat the previous session.

Meanwhile, MSCI's broadest index of Asia-Pacific shares edged 0.11 percent higher, helped by the rally in Japan as bargain hunters came in following Tuesday's decline to a two-week closing low.

Gains for Hong Kong's Hang Seng were led by a surge in tech stocks, with an index of the shares jumping 1.8 percent.

Australian equities declined 0.52 percent, on course to snap a six-day winning streak.

US stock futures edged 0.07 percent higher, following the S&P 500's 0.67 percent drop overnight.