Asia

Japan Investment In Southeast Asia Surges Amid China Slump. Japanese companies' investments in Southeast Asia surged last year to almost three times the amount invested in China, after relations between Beijing and Tokyo soured in 2012 and Chinese labor costs rose, a government agency of Japan said on Friday. Japanese companies invested 2.33 trillion yen ($22.8 billion) in Singapore, Thailand, Indonesia, Malaysia, the Philippines and Vietnam last year, compared with 887 billion yen in China, Japan's largest trading partner, the Japan External Trade Organization (JETRO), said. Investments doubled in Southeast Asia and fell 18 % in China over 2012 and China's waning attraction is likely to continue as the ratio of companies planning expansion there fell to a record low of below 55 %, JETRO said, citing a survey of Japanese companies. (Reuters)

China March New Home Price Increases Ease On Tighter Credit. China’s new-home price increases eased across the country last month amid tighter credit that prompted developers to give discounts. Home prices from the first-tier cities to those less affluent all weakened in March, according to the National Bureau of Statistics. Prices in the capital city of Beijing rose 10 % from a year earlier, the slowest since April last year, while those in Shanghai added 13 %, the smallest since June. The eastern city of Wenzhou fell 3.9 % from a year ago, according to today’s data. (Bloomberg)

USA

Payrolls Rose In Most U.S. States In March. Payrolls climbed in 34 U.S. states in March and unemployment rates fell in 21, showing the job market was making progress across much of the world’s largest economy. Florida led the nation with a 22,900 increase in payrolls, followed by North Carolina with 19,400 more jobs, figures from the Labor Department showed today in Washington. Ohio registered among the biggest declines in joblessness. Gains in hiring will probably help lift consumer confidence and spur household spending, which accounts for almost 70 % of the economy. The Federal Reserve, in its latest Beige Book review of regional conditions, said the labor market was “generally positive.” (Bloomberg)

Currencies

Yen At 10-Day Low Vs Dollar After U.S. Data, Ukraine Talks. The yen slipped to a 10-day low against the dollar on Friday after speculators unwound some safe-haven trades following encouraging U.S. economic data and on hopes for a diplomatic initiative seeking an end to violence in Ukraine. The dollar traded at 102.39 yen, and has ticked up in the past five sessions from a three-week low of 101.32 yen. The euro was at $1.3814, little changed over the past few sessions. Sterling hit a 4-1/2-year high of $1.6842 on Thursday, after better-than-expected UK jobless data bolstered expectations the Bank of England may have to raise interest rates earlier than its peers. On Friday it had eased back to $1.6785. (Reuters)

Commodities

Crude Prices Up In Thin Holiday Trade In Asia. The Good Friday session sees markets in Japan, mainland China, Hong Kong and South Korea open. Many trading centers globally however will be shut on the day. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in May traded at $104.58 a barrel, up 0.07%, after hitting an overnight session low of $103.56 a barrel and a high of $104.77 a barrel. Brent crude on the ICE futures exchange lost 7 cents, or 0.1%, to settle at $109.53 a barrel on Thursday. Prices are up 2% for the week. (Investing.com)

Gold Flat Below $1,300/Oz, Heading For Weekly Fall. Gold was heading for a 1.8 % weekly fall on Friday, dented by hopes that diplomatic efforts can calm violence in Ukraine and by strengthening U.S. economic data. In thin Easter holiday trade on Friday, spot gold was unchanged at $1,294.80 an ounce by 0920 GMT, while gold futures for June delivery closed down 0.8 % at $1,293.90 an ounce on Thursday. Platinum was unchanged at $1,404.50 an ounce, having posted its biggest daily loss since January, down 1.9 %, in the previous session. Among other precious metals, silver was down 0.1 % at $19.58 an ounce and palladium was unchanged at $794.00 an ounce. (Reuters)