In Asian Equity Markets stocks rose, with the regional benchmark index extending its winning streak to a sixth day, after an increase in U.S. manufacturing boosted optimism about growth in the world's biggest economy. Nissan Motor Co., a Japanese carmaker that gets 34 percent of its revenue in North America, added 2.1 percent. Renesas Electronics Corp. soared 9.3 percent in Tokyo on a report Apple Inc. is seeking to buy a stake in a unit that designs chips for liquid-crystal displays used in smartphones. Noble Group Ltd. advanced 3.8 percent in Singapore after Cofco Corp. agreed to buy 51 percent of Noble's agricultural trading unit. Japan's Topix (TPX) index added 1.2 percent after the yen yesterday fell for a fourth day against the dollar.Hong Kong's Hang Seng Index advanced 0.2 percent, while South Korea's Kospi index rose 0.2 percent. Australia's S&P/ASX 200 Index increased 0.1 percent, while New Zealand's NZX 50 Index lost 0.1 percent. Singapore's Straits Times Index added 0.1 percent.
In Currency Markets the US dollar rose to the highest level in more than two months against the yen before a private report today that may show stronger U.S. jobs growth. Figures tomorrow that may show service industries, the largest part of the world's biggest economy, strengthened and a government report on April 4 that may show employers boosted hiring. The greenback was set for its biggest one-day advance in two weeks versus the New Zealand dollar after a gauge of dairy products indicated a decline in prices. The yen dropped against the euro as gains in Japanese stocks damped demand for the local currency and before the European Central Bank meets tomorrow. The dollar strengthened 0.1 percent to 103.76 yen as of 7:00 a.m. in London after touching 103.94, the highest since Jan. 23. It climbed 0.5 percent to 85.96 cents per New Zealand dollar, set for the biggest gain since March 19. The yen lost 0.2 percent to 143.29 per euro. Europe's shared currency added 0.1 percent to $1.3809.
In Commodities Markets gold snapped two days of losses after prices declined to a seven-week low, encouraging some investors to buy the metal amid signs of improving physical demand in China, the world's largest consumer. Bullion for immediate delivery rose as much as 0.4 percent to $1,284.12 an ounce and traded at $1,282.53 by 2:00 p.m. in Singapore. Silver for immediate delivery increased 0.1 percent to $19.7887 an ounce. Platinum climbed 0.5 percent to $1,430.94 an ounce, while palladium slid 0.4 percent to $777.63 an ounce. Copper climbed for a second day to a three-week high on concern that an earthquake in Chile, the world's biggest producer, may disrupt supplies. The contract for delivery in three months on the London Metal Exchange added as much as 1 percent to $6,728.75 a metric ton, the highest intraday level since March 10. In Shanghai, futures for delivery in June advanced 0.2 percent to 46,850 yuan ($7,559) a ton.
In US Equity Markets stocks rose, as consumer and technology shares pushed the Standard & Poor's 500 Index to an all-time high, after an increase in a manufacturing index boosted optimism the economy withstood severe winter weather. Cisco Systems Inc. jumped 3.9 percent, the most since May, to lead technology shares higher. Celgene Corp. rallied 5 percent to pace gains among biotechnology stocks after entering a cooperation with a cancer-drug research firm. MGM Resorts International added 2.6 percent to lead casino stocks higher after Macau gambling revenue increased last month. Ford Motor Co. climbed the most since 2012 after March sales topped estimates. Eight of 10 main industries in the S&P 500 advanced today, with consumer-discretionary shares adding 1.4 percent to lead gains. TripAdvisor Inc. and Expedia Inc. rallied more than 4.7 percent. Priceline.com, which changed its name today to Priceline Group, jumped 5 percent. Finally, the DJIA finished up 0.45% at 16,532.48, the S&P 500 up 0.70% at 1,885.48, and the NASDAQ 100 up 1.74% at 3,658.40.
In Bond Markets Treasuries were the world's worst-performing government bonds over the past month on speculation the U.S. economy is improving enough for the Federal Reserve to raise interest rates next year. The extra yield 10-year notes pay versus same-maturity German bunds widened to 1.18 percentage points, the most since 2006. A U.S. report April 4 will show the economy added 200,000 jobs in March, the most in four months, based on a Bloomberg News survey of economists. Traders brought forward bets on when the Federal Reserve will raise interest rates after Chair Janet Yellen indicated in March the Fed may act in the middle of 2015. Benchmark 10-year yields rose one basis point, or 0.01 percentage point, to 2.76 percent as of 7:00 a.m. in London. Japan's 10-year borrowing cost increased one basis point to 0.625 percent.Australia's rose four basis points to 4.17 percent, headed for the highest closing level in three weeks.
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