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Asia Rallies on Speculation of Easing in China and Europe Trades Higher on Spanish Yields Falling

“Stocks rose around the world and commodities rebounded from a seven-week low amid speculation China’s government will do more to support economic growth. Spain’s bonds advanced as ministers met to approve a 2013 austerity budget.

The MSCI All-Country World Index (MXWD) climbed 0.3 percent at 12:32 p.m. in London, and futures on the Standard & Poor’s 500 Index advanced 0.5 percent. The Shanghai Composite Index jumped the most in three weeks, while the S&P GSCI gauge of 24 commodities gained 0.8 percent as aluminum added 1.3 percent. New Zealand’s dollar led gains among higher-yielding currencies. Spanish 10-year yields dropped for the first time in three days.”

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