Asian stocks rose, after the regional benchmark index yesterday dropped the most in two weeks, as investors weighed data showing China’s credit growth trailed estimates in February and awaited the conclusion of the Bank of Japan’s policy meeting.
Chinese shares listed in Hong Kong swung between gains and losses, after falling the most in a month yesterday, as investors weighed data showing mainland credit growth miss estimates amid a shadow-banking crackdown.
U.S. stocks declined with emerging- market equities while base metals drove commodities lower as an unexpected drop in Chinese exports fueled concern that growth in the world’s second-largest economy is moderating.
McDonald’s Corp., the world’s largest restaurant chain, said sales at stores open at least 13 months fell 0.3 percent in February as its U.S. business slumped for the fourth straight month amid harsh weather.
Federal Reserve Bank of Philadelphia President Charles Plosser, who votes on policy this year, said recent encouraging economic data isn’t enough to change the pace of the central bank’s asset purchases.