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.
U.S. stocks maintained gains, after an earlier rally fueled by optimism on corporate earnings and better-than-estimated factory data, as Federal Reserve Chair Janet Yellen said the central bank has a “continuing commitment” to support the economic recovery.