GLOBAL MARKETS-Asia shares edge higher, oil slips as Suez Canal ship re-floated

* Asian stock markets : https://tmsnrt.rs/2zpUAr4
* Nikkei up 1%, Nomura flags possible loss at U.S. unit
* Markets hopeful ahead of Biden infrastructure plan
* Oil slips as ship re-floated in Suez Canal
* U.S. dollar holds recent gains on euro and yen

By Wayne Cole
SYDNEY, March 29 (Reuters) - Asian share markets edged
higher on Monday while oil prices slipped as the ship blocking
the Suez Canal was re-floated, raising hopes the vital waterway
could reopen and ease global shipping backlogs.
The news added to optimism about world growth as markets
look to President Joe Biden to outline his infrastructure
spending plans this week, which could supercharge an already
accelerating U.S. recovery.
"We expect the global economy to expand robustly at 6.4%
this year, fuelled by a large U.S. fiscal stimulus, with
positive spillovers for the rest of the world," said Barclays
economist Christian Keller.
"Rising inflation over the coming months should be
transitory, and core central banks seem committed to looking
through it."
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS added 0.3%, with activity restrained by the
approach of quarter end. Chinese blue chips rose 0.8% .CSI300 .
Japan's Nikkei .N225 gained 1%, though there was some
nervousness when Nomura reported its U.S. unit could face a $2
billion loss related to a client. There was also some caution after a $20 billion wave of
block trades hit markets on Friday, reportedly linked to
investment fund Archegos Capital. For now, Nasdaq futures NQc1 were off 0.6% and S&P 500
futures ESc1 0.5%. EUROSTOXX 50 futures STXEc1 did manage to
rise 0.2%, while FTSE futures FFIc1 were flat.
The prospect of faster U.S. economic growth has spurred
speculation of rising inflation and weighed on Treasury prices.
Yields on U.S. 10-year notes US10YT=TWEB eased a touch on
Monday to 1.66%, but were still not far from the recent 13-month
top of 1.754%.
European yields have been restrained by active buying from
the European Central Bank, widening the dollar's yield advantage
over the euro. The single currency was last at $1.1786 EUR= ,
having hit a five-month low of $1.1760 last week.
Analysts at TD Securities noted the euro had failed to find
any benefit from a very strong German IfO survey on Friday that
showed business morale at a near two-year high and signs of
recovery in the service sector. "This suggests that market positioning still remains
significantly skewed toward the long side in EURUSD — even
though spot has seen a meaningful decline through the 200-day
moving average," they wrote in a note. "We continue to focus on
downside risks from here."
The dollar held at 109.50 yen JPY= , having reached its
highest since early June on Friday at 109.84. The dollar index
stood at 92.774 =USD , after reaching its highest since
mid-November.
The lift in yields has weighed on gold, which offers no
fixed return, and left it at $1,730 an ounce XAU= .
Oil prices eased as markets assumed the re-floating of the
Ever Given would allow tankers to use the waterway again. There
were over 300 vessels waiting to pass through the shipping route
which accounts for 12% of global trade. The market will also be cautious ahead of an OPEC meeting
this week, which will have to decide whether to extend supply
limits, or loosen the spigots. O/R
Brent LCOc1 fell 90 cents to $63.67 a barrel, while U.S.
crude CLc1 lost $1.03 to $59.94 per barrel.

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(Editing by Sam Holmes and Richard Pullin)