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GLOBAL MARKETS-Asia stocks, currencies rally as risk sought

Mon Nov 9, 2009 9:02am IST
 
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* Stocks advance on hopes stimulus plans will run longer

* U.S. dollar remains under pressure after G20, jobs data

* U.S. 30-year bond falls ahead of new supply, oil rises

* Status quo in place: asset prices to head higher

By Kevin Plumberg

HONG KONG, Nov 9 (Reuters) - Asian stocks and currencies rose on Monday as investors bet that a surge in the U.S. unemployment rate to a 26-1/2-year high would force policymakers to keep many stimulus measures in place until an economic recovery was on more solid footing.

U.S. stock futures SPc1 edged up while U.S. Treasuries sagged ahead of $81 billion worth of new supply this week.

The message of status quo was well reflected in markets with U.S. job market contraction remaining near a trend rate and G20 finance leaders ending a weekend meeting without any concrete proposals to rebalance the global economy.

That meant the winner will be asset prices.  Continued...

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