Asian shares rose, the dollar steadied, Gold climbed; Key events coming up this week 

Asian shares rose, the dollar steadied and Treasuries slipped as the second quarter began for some of the region’s traders. Volumes were subdued with many markets across the world still closed for the Easter holiday.

Equities in Japan and China traded higher, though gains were pared as the session progressed. South Korean shares were little changed while U.S. index futures showed small declines. The yen was steady as traders digested a poll showing improved support for Prime Minister Shinzo Abe’s cabinet. The won rose to its strongest against the dollar in over three years as tensions in the region showed further signs of easing. West Texas crude oil climbed past $65 per barrel.

Investors are entering the second quarter on the defensive, after the worst three months for global stocks in more than two years, characterized by a surge in volatility and a barrage of concerns from escalating trade tensions to profit taking in technology shares. Focus this week turns to U.S. labor market data Friday with unemployment expected to fall to its lowest since 2000. Traders are also awaiting details on U.S. plans for tariffs on China.

“With interest rates still relatively low, and generating negative real returns if you remain in cash, the yield attraction of equities and the growth prospects still make it look the best alternative,” Stephen Davies, founder and CEO of Javelin Wealth Management, told Bloomberg TV on Monday.

Elsewhere, gold edged higher and Bitcoin remained below $7,000.

Here are some key events coming up this week:

• Easter Monday is a public holiday in many areas including the U.K., Australia, Canada, and most of Europe.
• U.S. manufacturing PMI and ISM manufacturing data due Monday.
• Reserve Bank of Australia April monetary policy decision due Tuesday.
• New York Fed debuts the Secured Overnight Financing Rate on Tuesday.
• Reserve Bank of India April policy decision due Thursday.
• U.S. employment data due Friday; jobless rate probably fell in March after holding at 4.1 percent for five straight months.

These are the main moves in markets:

Stocks

• Japan’s Topix index rose 0.2 percent as of 1:22 p.m. in Tokyo.
• South Korea’s Kospi added 0.1 percent.
• China’s Shanghai Composite gained 0.2 percent.
• India’s Sensex rose 0.2 percent.
• Futures on the S&P 500 slid 0.3 percent.
• The MSCI All Country World Index was down 1.4 percent for the first quarter, the first losing one since the start of 2016.

Currencies

• The Bloomberg Dollar Spot Index fell less than 0.1 percent.
• The Japanese yen was steady at 106.32 per dollar.
• The euro was little changed at $1.2318.

Bonds

• The yield on 10-year Treasuries rose two basis points to 2.76 percent.

Commodities

• West Texas Intermediate crude rose 0.4 percent to $65.20 per barrel.
• Gold climbed 0.3 percent to $1,329.67 an ounce.

Source: Bloomberg – Asian Stocks Edge Higher; U.S. Treasuries Slip: Markets Wrap

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