Senin, 13 Januari 2014

Asia Stocks Rise as Dollar Falls; Metals Rally on Ore Ban



Asian stocks rose and the dollar weakened as investors weighed prospects for U.S. stimulus. Nickel led gains by metals and the rupiah climbed after Indonesia banned mineral ore exports.

The MSCI Asia Pacific excluding Japan Index increased 0.4 percent at 10:45 a.m. in Hong Kong. Standard & Poor’s 500 Index futures slid 0.2 percent. The Bloomberg Dollar Spot Index fell for a third day as the greenback dropped 0.8 percent against the yen and 0.9 percent versus the rupiah. Nickel rose 0.9 percent and aluminum increased 0.4 percent. Gold traded at its highest level in a month. Japanese markets are closed for a holiday.

U.S. payrolls rose the least since January 2011 last month, trailing economists’ estimates. Atlanta Federal Reserve President Dennis Lockhart speaks today, while Charles Plosser from the Philadelphia Fed and Richard Fisher from Dallas speak tomorrow. Indonesia, which Goldman Sachs Group Inc. estimates provides as much as 20 percent of global nickel supply, imposed a ban on raw ore exports effective from yesterday.
(Source: Bloomberg)                         


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