Asian stocks looked set to gain as pressure from the bond market eased after the US Treasury unveiled plans to buy back longer-dated debt to curb borrowing costs. The announcement sparked a rally in government bonds and pushed the dollar to a three-month low, boosting risk appetite across the region.

The Treasury's buyback program targets longer-dated debt to reduce financing costs, a move that alleviated concerns about rising yields. Investors interpreted the step as a signal of proactive liquidity management, supporting equity markets from Tokyo to Sydney.

Asian stocks futures advanced in early trading, with benchmarks in Japan, Australia, and Hong Kong pointing higher. The weaker dollar also provided relief to emerging market currencies and commodity prices, reinforcing the positive sentiment.

Market participants will monitor the scale and pace of the buybacks for further clues on the Treasury's commitment to stabilizing the bond market. The development marks a shift in focus from Federal Reserve policy to fiscal operations as a driver of cross-asset moves.