Japan’s consumer confidence fell to the lowest level since August 2011, and the government cut its economic assessment for the first time in 17 months, as a sales- tax increase on April 1 sapped the public’s spending power.
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.
The Standard & Poor’s 500 Index rose, giving it the best three-day rally in two months, while Treasuries fell as Yahoo! Inc. jumped on earnings and U.S. industrial production increased. The pound strengthened and copper advanced.