Asian shares rise to three-week high ahead of Powell's testimony

Asian shares extended their recovery on Tuesday, hitting a three-week high as U.S. borrowing costs eased ahead of Federal Reserve Chairman Jerome Powell's highly-anticipated first congressional testimony later in the day. The 10-year U.S. Treasuries yield eased to 2.864 percent, dropping further from its four-year peak of 2.957 percent touched on Feb 21, driven by month-end buying as well as position adjustments ahead of Powell's testimony. Powell's debut appearance is seen as critical for financial markets at a time when many investors are nervous about the Fed's policy normalization following years of stimulus after the financial crisis almost a decade ago.

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