Russian stocks trading in New York sank for a fourth day as concern mounted that President Vladimir Putin faces stiffer international sanctions after his special forces were spotted in eastern Ukraine.
Asian stocks rose for a second day after U.S. industrial production increased more than forecast in March and Federal Reserve Chair Janet Yellen said the central bank remains committed to supporting the economic recovery.
Iron ore prices are set to slump in the second half as more steel companies in China will probably go bankrupt, hurting demand in the world’s largest user just as supply expands, according to Standard Chartered Plc.
Hong Kong stocks rose, with the benchmark index gaining for a second day, after better-than- expected U.S. industrial production boosted optimism in the world’s largest economy. Citic Pacific Ltd. led declines after agreeing to buy its parent’s financial assets.
The Ibovespa rose after a two-day slump as raw-material producers rallied on speculation China will take further steps to maintain growth, boosting the prospects for exports to Brazil’s top trading partner.
Russian equities trading in New York fell for a third day, the longest slide in a month, as clashes in eastern Ukraine added to speculation that the U.S. and Europe will step up economic sanctions against the Kremlin.