By Adam Haigh Apr 4, 2014 8:05 AM GMT+0800

Asian stocks fell, with the regional equities benchmark index on course to snap its longest winning streak this year, as investors awaited data on U.S. jobs growth.

The MSCI Asia Pacific Index slid 0.2 percent to 138.81 as of 9:01 a.m. in Tokyo, before markets opened in China and Hong Kong. The gauge yesterday capped a seventh straight advance after a private report showed stronger-than-forecaste growth in U.S. employment in March. The government&rsquo s monthly jobs data due today will show that hiring increased last month by the most since November, economist estimates compiled by Bloomberg show.

&ldquo Barring something out of left field, a nothing sort of day is on the cards ahead of the March U.S. nonfarm payrolls data,&rdquo Tony Farnham, a Perth-based analyst at Paterson Securities Ltd., said in an e-mail.

Asian shares are on course for a second week of gains, with Japanese stocks rebounding from last quarter&rsquo s slump and Hong Kong equities surging as China outlined economic stimulus plans. The regional measure rose 1.7 percent through yesterday, while Hong Kong&rsquo s Hang Seng Index gained 2.3 percent.

Japan&rsquo s Topix index slid 0.3 percent today, paring its weekly advance to 2.3 percent, and Australia&rsquo s S& P/ASX 200 Index slipped 0.2 percent. New Zealand&rsquo s NZX 50 Index declined 0.1 percent and South Korea&rsquo s Kospi index retreated 0.3 percent.

Hong Kong

Futures on Hong Kong&rsquo s Hang Seng Index slid 0.4 percent in the most recent trading session and Hang Seng China Enterprises Index contracts of mainland companies traded in Hong Kong lost 0.7 percent. The Bloomberg China-US Equity Index of the most-traded Chinese equities in the U.S. dropped 1.4 percent yesterday in New York.

Standard & Poor&rsquo s 500 Index futures rose 0.1 percent today. The U.S. equities benchmark slipped 0.1 percent yesterday, from a record, as consumer and technology shares slumped.

U.S. employers probably added 200,000 people to nonfarm payrolls last month, according to the median of 90 economist estimates compiled by Bloomberg, the most since a 274,000 increase in November and up from the 175,000 workers added in February. Data yesterday showed an uptick in jobless claims, with the number of people claiming unemployment benefits in the U.S. rising to a five-week high of 326,000, exceeding the median forecast for 319,000 claims.

The Asia-Pacific stock gauge yesterday traded at 12.6 times estimated earnings, compared with 16.1 for the S& P 500 and 14.7 for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.

 

By Emma O&rsquo Brien and Yoshiaki Nohara Apr 3, 2014 12:00 PM GMT+0800

Asian stocks rose for a seventh day in the longest rally this year, as the Japanese yen reached a two-month low and China&rsquo s government announced stimulus policies. Copper and oil fell.

The MSCI Asia Pacific Index added 0.3 percent by 11:43 a.m. in Hong Kong, as Japan&rsquo s Topix index gained 0.8 percent. Standard & Poor&rsquo s 500 Index (SPX) futures were little changed after the gauge climbed a fourth day, extending its record. The yen weakened 0.2 percent to 104.07 per dollar, while copper dropped 0.8 percent and oil slid 0.2 percent.

China&rsquo s government will sell 150 billion yuan ($24 billion) of bonds this year to fund railways for less-developed regions and extend preferential taxes to more small companies, the State Council said in a statement yesterday. Weekly U.S. jobless claims are due as investors weigh private data showing an increase in employment last month. The European Central Bank will probably keep interest rates at a record low today.

&ldquo We are starting to see more positive talk from officials in terms of the potential for stimulus&rdquo in China, said Angus Gluskie, managing director at White Funds Management in Sydney, who helps oversee about $550 million. &ldquo You have European and U.S. economies that continue to recover after particularly poor conditions a few years ago. Overall, employment and general economic activity continue to move up.&rdquo

Support Package

Australia&rsquo s S& P/ASX 200 Index added 0.2 percent, the Kospi (KOSPI) index in Seoul rose 0.2 percent and Hong Kong&rsquo s Hang Seng index gained 0.4 percent.

China Railway Group Ltd. surged 5.6 percent in Hong Kong, while China Railway Construction Corp. rallied 8.1 percent. The Chinese yuan was little changed at 6.2070 per dollar. The nation&rsquo s official non-manufacturing gauge dropped to 54.5 last month from 55 in February, data today showed.

Bond risk fell with the Markit iTraxx Asia index of credit-default swaps dropping 2 basis points to 121.

The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major peers, climbed 0.2 percent yesterday and was little changed today.

U.S. employers probably added 200,000 workers to nonfarm payrolls in March, the biggest increase since November, according to the median of 88 economists&rsquo estimates compiled by Bloomberg before tomorrow&rsquo s Labor Department report. ADP Research Institute said yesterday that payrolls rose by 191,000 workers last month, up from a 178,000 gain in February which was stronger than first projected.

Yields on 10-year U.S. Treasuries was little changed at 2.80 percent, after rising five basis points yesterday as the S& P 500 gained 0.3 percent. Similar-maturity Australian government debt yields rose a fourth day, climbing four basis points to 4.2 percent.

Australian Dollar

The Australian dollar slipped 0.3 percent to 92.22 U.S. cents after data showed retail sales rose 0.2 percent in February, less than the median estimate in a Bloomberg survey for 0.3 percent. The South Korean won depreciated 0.1 percent to 1,057.82 per dollar and the Malaysian ringgit lost 0.3 percent to 3.2795.

The euro was little changed at $1.3758 today after falling 0.2 percent in the last session to halt a three-day climb. The common currency was also steady at 143.17 versus the yen.

ECB policy makers will probably keep the benchmark rate at 0.25 percent, according to a Bloomberg survey of economists. Brazil&rsquo s central bank raised its target interest rate for a ninth straight meeting, by 25 basis points to 11 percent.

Copper Falls

Copper slipped to $6,627.25 a ton on the London Metal Exchange as mines in Chile, the world&rsquo s biggest producer, were returning to normal operations after the government ordered an evacuation following earthquakes. Santiago-based Codelco, the largest miner of copper, KGHM Polska Miedz SA and Pan Pacific Copper Co. said their projects escaped damage.

West Texas Intermediate crude dropped 0.2 percent to $99.21 a barrel. Rebels in eastern Libya said they were close to a deal to reopen ports, while a government report on U.S. crude stockpiles showed an unexpected drop in supplies.

Rubber futures in Tokyo slid 0.9 percent after dropping 3.3 percent yesterday. Gold rose 0.1 percent in the spot market to $1,291.54 an ounce after gaining 0.9 percent yesterday.