Asian equity markets rebounded Thursday after global bond yields retreated from multi-year highs. The US Treasury Department said it would more than double repurchases of 10-, 20- and 30-year debt over the coming months, seeking to rein in long-term borrowing costs after the US 30-year Treasury yield reached its highest level since 2007 earlier this week. Sovereign yields across major Asian economies also declined, with Japan's 10-year yield pulling back from a 30-year high. South Korea's KOSPI surged around 6% as chipmakers rebounded sharply, Japan's Nikkei gained 1%, and shares in Australia, China and Hong Kong advanced.