property stocks to surge. The CSI300 property sub index

Chinese state media reported that several cities may relax restrictions on house ownership, causing property stocks to surge. The CSI300 property sub index .CSICMREI rose 4 percent.
"Previously, the government repeatedly talked about controlling the property market, but now they aren't saying anything about this and instead there have been signs of easing policies," said Tian Weidong, head of research in Kaiyuan Securities in Xi'an.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS crept up 0.4 percent to a fresh four-month high, while South Korea made a three-month peak .KS11.
The Nikkei .N225 outperformed after the yen weakened. It climbed 1.7 percent after Wall Street hit an intraday record high on Monday.
U.S. economic news has whetted risk appetite. Manufacturing ISM data showed an expansion after weather-induced weakness in February. New-vehicle sales saw a surprisingly brisk rise. The U.S. payrolls report on Friday is expected to show employment rose to 200,000 in March.
The brighter tone put pressure the long-end of the U.S. Treasury curve, where yields on 10-year paper rose 2 basis points to the highest in a week at 2.77 percent.
Shorter-dated debt fared better after Federal Reserve Chair Janet Yellen's comment this week that extraordinary stimulus would be needed for some time to come.
WILL THEY, WON'T THEY?
A Reuters poll of 22 euro money-market traders found 18 expected no change in the ECB's 0.25 percent refinancing rate this week.
The single currency rose to $1.3810 for its fourth straight session of gains. It also gained as the yen softened, reaching 143.30. The dollar reached a 10-week top at 103.86 yen.
Among commodities, Brent crude was flat at $105.54 a barrel. It had shed over 2 percent overnight after Libyan rebels blocking oil ports hinted at a deal with Tripoli, which could increase supply.
U.S. crude eased 6 cents to $99.68 a barrel. It also lost around 2 percent on Tuesday, amid expectations domestic inventories would grow.
Spot gold was sulking at $1,283.10 an ounce. It touched a seven-week low of $1,277.29 on Tuesday.