OPEN APR1

​In Asian Equity Markets indices rose on Monday morning following data released over the weekend that showed economic activity in China unexpectedly bouncing back in March. The Shanghai composite was up 1.93 percent, while Hong Kong's Hang Seng index was up 1.72 percent. The Nikkei 225 in Japan jumped 1.96 percent as shares of index heavyweights Fast Retailing, Softbank Group and Fanuc all advanced. Over in South Korea, the Kospi added 1.18 percent as chip-maker SK Hynix pared earlier gains to see its stock jump 2.70 percent.



In Currency Markets a surprise improvement in Chinese factory activity supported the yuan and Australian dollar on Monday, and provided a broader boost to global investor confidence, helping the dollar gain against the safe-haven yen. The official Purchasing Managers’ Index rose to 50.5 in March from February’s three-year low of 49.2, beating economists’ median forecast of 49.5. That pushed the Australian dollar, often seen as an investment proxy for Chinese economic prospects, 0.15 percent higher to $0.7107.



In Commodities Markets oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy. Brent crude for June delivery was up by 43 cents, or 0.6 percent, at $68.01 a barrel, having risen 27 percent in the first quarter. U.S. West Texas Intermediate (WTI) futures rose 32 cents, or 0.5 percent, to $60.46 barrel, after posting a rise of 32 percent in the January-March period.



In US Equity Markets stocks ended the final trading day of the first quarter on a strong note on Friday and the S&P 500 posted its best quarterly gain since 2009, boosted by optimism over the latest round of trade talks between the United States and China. The S&P 500 gained 0.67 percent, to 2,834.4 and the Nasdaq Composite added 0.78 percent, to 7,729.32. Ride-hailing startup Lyft Inc jumped more than 20 percent after making its debut on the Nasdaq. The stock ended up 8.7 percent.



In Bond Markets U.S. Treasury yields rose on Friday as risk sentiment improved into quarter-end, boosting stocks and reducing demand for safe haven bonds. Benchmark 10-year notes fell 5/32 in price to yield 2.405 percent, after dropping to 2.340 percent in overnight trading on Thursday, the lowest since December 2017. The yields have fallen from 2.618 percent on March 20, when the Federal Reserve dramatically abandoned projections for any interest rate hikes this year. The yield curve between three-month bills and 10-year notes turned slightly positive, after being inverted for a week.