Global Shares Advance Ahead of Comments From Central Bankers

By Riva Gold and Kenan Machado Features Dow Jones Newswires

Global stocks were broadly higher Tuesday as investors looked ahead to second-quarter earnings and fresh cues from central bank officials.

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Asian markets mostly climbed as technology companies echoed gains in their U.S. counterparts on Monday, while futures pointed to a small opening advance on Wall Street.

The Stoxx Europe 600 edged up 0.3% in the early minutes of trading, led by autos, miners, chemicals and banks--sectors that tend to be most geared to economic growth and higher government bond yields.

Government bond yields rose Tuesday after Federal Reserve Bank of San Francisco President John Williams stuck to his view that the U.S. economy was healthy enough to raise interest rates one more time this year and to start trimming its balance sheet.

Yields on 10-year Treasurys rose to 2.392% from 2.371% on Monday, while German bund yields climbed to 0.559% from 0.539%. Yields move inversely to prices.

Other Fed officials as well as bankers from the Bank of England and the European Central Bank are also scheduled to appear this week as investors watch for more cues on monetary policy. Fed Gov. Lael Brainard is due to speak in New York on Tuesday, ahead of Chairwoman Janet Yellen's testimony to congressional committees on Wednesday and Thursday.

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Ms. Brainard's speech "is worth mulling over as one of the first Fed views after the data surprise," said Mizuho Bank analyst Vishnu Varathan, referring to last week's U.S. nonfarm-payrolls report for June, which came in above expectations.

Earlier, technology shares across the Asia-Pacific rose, after U.S. tech stocks sent the Nasdaq Composite higher on Monday.

Taiwan's Taiex index was up 1.2%, with iPhone lens maker Largan Precision surging 3.8% and fellow Apple suppliers Hon Hai Precision and Taiwan Semiconductor gaining 2.6% and 2.9% respectively.

In Japan, index heavyweight and tech investor SoftBank gained 2%, while the benchmark Nikkei Stock Average was up 0.6% as a weaker yen, which benefits export-oriented stocks, also supported the Nikkei. The dollar was last up 0.3% against the yen.

After recent declines, investors are adding tech stocks to their portfolios at the cost of old-economy stocks, said William Cheung, regional strategy analyst at Kim Eng Securities. However, "they must exercise caution and be selective in picking these stocks," he said.

Hong Kong's Hang Seng Index was up 1.4%, with tech heavyweight Tencent adding 2.2%. Shares of Chinese developer Sunac China surged 13.5% as trading resumed Tuesday, after the company unveiled plans to buy hotel and theme-park assets from Dalian Wanda for $9.3 billion.

In commodities, Brent crude oil was last up 0.9% at $47.26 a barrel, as the market looked to possible measures to cap production in Libya and Nigeria. Their rising output will be discussed at the Organization of the Petroleum Exporting Countries' meeting on July 24, cartel delegates say.

Jenny Hsu, James Glynn and Joanne Chiu contributed to this article.

Write to Riva Gold at riva.gold@wsj.com and Kenan Machado at kenan.machado@wsj.com

(END) Dow Jones Newswires

July 11, 2017 04:11 ET (08:11 GMT)