Asian stocks climbed, with Japanese and South Korean indexes rising for the second time in four days, while the won led gains in emerging-market currencies. Oil resumed declines as gold held near an almost four-month high.
U.S. equities rallied, with the Standard & Poor’s 500 Index touching an intraday record and all but erasing its 2014 decline, amid confidence the economy is strong enough to weather cuts to monetary stimulus. Commodities gained while Ukrainian shares jumped the most since 2010.
Credit Suisse Group AG Chief Executive Officer Brady Dougan will testify this week at a U.S. Senate committee’s hearing on offshore tax evasion, increasing pressure on the largest of 14 Swiss banks under criminal investigation for helping Americans cheat on taxes.
HSBC Holdings Plc became the first U.K. lender to reveal its plans to sidestep European Union caps on bonus payments for more than 600 senior managers as it awarded Chief Executive Officer Stuart Gulliver 8 million pounds ($13.3 million) in compensation.
HSBC Holdings Plc, Europe’s largest lender, said full-year earnings at its private bank dropped 81 percent as customers pulled money from its Swiss cross-border business and the firm made provisions for regulatory probes.