* U.S. product yield kicks off after report of $ 2 trillion stimulus plan
* Nikkei + 1.4% to new 30-year high
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
With Tom Westbrook and Chibuike Oguh
SINGAPORE / NEW YORK, Jan 14 (Reuters) – Bonds slipped, Japanese stocks jumped to a three-decade high and other Asian shares hit near-high peaks Thursday as investors focused on U.S. stimulus expectations and an extended bet on global regeneration and growth.
Japan’s Nikkei rose 1.4% to its highest point since August 1990. It is up more than 8% in three weeks. MSCI’s broadest index of Asia-Pacific shares outside of Japan was stable with just a few whiskeys short of Monday’s high.
The U.S. Treasury, which had soared overnight after some promises that the U.S. Federal Reserve would continue to buy bonds, was sold again after CNN reported that President Joe Biden demolition of an incentive package as large as $ 2 trillion.
The yield on 10-year financial benchmark, which will rise when prices fall, raised 1.7 basis points in Asia.
Ten-year Treasury yields are up more than 19 basis points this year as investors bet on Biden’s lending and spending agenda to be able to clear Democrat-controlled Congress – and how worry creeping in when Fed support might go off.
S&P 500 futures rose 0.2% and EuroSTOXX 50 futures rose 0.3%.
“The key question for global markets and equities is when the Fed will start tapering,” said Frank Benzimra, head of Asian equities strategy at Societe Generale in Hong Kong.
“This is where you get a little anxious … but at the moment it’s a bit premature. We’re in a context where growth is accelerating, economic signals are good, and in the US there are more stimulus fiscal probability. “
Money markets are taking a little more of a wait and see approach, as investors are in short supply of dollars and wondering if the last tapering could reverse the decline of the greenback.
The dollar rose 0.2% to 104.12 yen with U.S. yields following a CNN report, which cited one lawyer in contact with Biden advisers as its source. Biden is to announce his economic plans on Thursday.
Traders also want to hear from Fed Chairman Jerome Powell on Thursday, where any suggestion of a final downturn could be re-entered.
Australian and New Zealand dollars stood after slipping slightly overnight, with the Aussie at $ 0.7733 and the kiwi at $ 0.7174. The euro posted a broad but small loss at $ 1.2141 and 126.3 yen.
BOARD EXPORTS
At the same time, stellar economic statistics continued to flow in North Asia. China’s exports grew more than expected in December – signaling strong global demand – as machinery orders rose for a second straight month in Japan.
Chinese blue chips outperformed Wednesday’s 13-year high when investors made some profits.
Shares of Hong Kong’s tech giants Alibaba and Tencent rose after sources told Reuters and the Wall Street Journal that plans to extend the U.S. investment ban to the stocks had been scrapped.
In Washington, the Democratic-controlled House of Representatives entered President Donald Trump for the second time. But markets have become more focused on its attacks on Chinese companies.
Trump backed a ban on U.S. investments in Chinese companies deemed to be tied to the military by clarifying late Wednesday that American investors cannot own them after November 2021.
In commodity markets oil futures are experiencing small losses as new pressures in coronavirus cases raise concerns about more locks and lower energy demand. Brent crude futures slipped 0.1% to $ 55.91 a barrel and U.S. crude futures fell the same margin to $ 52.81 a barrel.
Gold, which pays no interest, has suffered as U.S. output has climbed and traded 0.2% lower at $ 1,838 an ounce – far below its two-month high of $ 1,959 a was beaten a week ago.
(Reporting by Tom Westbrook in Singapore and Chibuike Oguh in New York. Additional report by Junko Fujita in Tokyo; Editing by Cynthia Osterman and Gerry Doyle)