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By Bloomberg

Asian stocks headed for their biggest quarterly advance since 2012 and the dollar strengthened against most peers amid speculation that central bank stimulus globally will continue to support asset prices. Crude oil fell for a third day.

The MSCI Asia Pacific Index rose 0.3 percent by 12:27 p.m. in Tokyo, heading for a 6.6 percent advance over the past three months. Chinese shares in Hong Kong jumped a second day after property curbs were loosened. Standard & Poor’s 500 Index futures fell 0.2 percent. Australia’s dollar and South Korea’s won weakened amid speculation the countries’ central banks will cut rates next week. U.S. oil slid 1.3 percent.

The value of global equities jumped 5 percent this year through yesterday, the most since the end of 2013, as deflation concerns saw the Federal Reserve revise down its outlook for rates while central banks from Europe to Asia boosted stimulus. China reduced down payments for second homes and broadened a sales-tax exemption on Monday, a day after central bank Governor Zhou Xiaochuan said more can be done to support growth.

“Investors continue to work on the expectation that the People’s Bank of China will deliver more policy reports in coming months and that the U.S. Fed will be cautious about its policy deliberations,” Matthew Sherwood, head of investment markets research in Sydney at Perpetual Ltd., which manages about $21 billion, said by e-mail.

Asian Indexes

The euro area, which embarked on quantitative easing this month, updates consumer prices Tuesday. Greece’s bailout talks have stalled with European officials criticizing their proposal.

The Hang Seng China Enterprises Index added 1.7 percent, extending Monday’s 3.4 percent surge that was the biggest single day advance this year. The Shanghai Composite Index fluctuated, having gained 17 percent this year, the largest first quarter advance since 2009.

A gauge of Shanghai-listed property companies advanced 0.1 percent after yesterday surging 7.3 percent, the most since March 2009. The required down payment for some second homes was lowered to 40 percent from 60 percent, the People’s Bank of China said on its website. The finance ministry later said select homeowners will be exempted from a sales tax if they sell after holding a property for two years or more.

Foreigners were net sellers of Chinese shares via the Shanghai-Hong Kong exchange link in the week through Monday, while outflows from the two biggest Hong Kong exchange-traded funds tracking mainland shares totaled $622 million. Money flowed out of the link again on Tuesday after the Composite Index touched a seven-year high.

Japan’s Topix index climbed 0.3 percent in a second day of gains, on track for an 11 percent advance in the quarter. The yen was little changed at 120.18 per dollar after halting a three-day advance Monday.

Sydney Stocks

Australia’s S&P/ASX 200 Index rose 1.2 percent, while the NZX 50 Index in Wellington gained 0.2 percent. The Kospi index in Seoul advanced 0.4 percent, set for an increase in the quarter of 6.2 percent.

MSCI’s Asia-Pacific gauge is up 0.6 percent in March for a third straight month of gains, sending the gauge of 997 regional stocks toward its biggest quarterly increase since the first three months of 2012. The MSCI All-Country World Index has advanced 2.7 percent this quarter even with a 0.9 percent drop in March. The value of global equities rose to a record of $68.7 trillion on March 23.

The Aussie weakened to 76.4 U.S. cents after a five-day slump, and its New Zealand counterpart slipped to 74.93 U.S. cents. Australia’s dollar dropped to a post-float low versus the kiwi on Monday amid divergent outlooks for monetary policy and is set for a third quarterly loss against the greenback.

BOK Signal

The won fell to 1,108.80 per dollar, also headed for a third straight quarterly retreat. Bank of Korea Governor Lee Ju Yeol signaled prospects of more monetary easing in Seoul Monday after markets closed.

The euro weakened $1.0817 after sliding 0.5 percent Monday. Greek Prime Minister Alexis Tsipras is trying to get a consensus in the country’s parliament on his efforts to secure bailout funds. A 15-page list of proposals submitted by the government requires more detail and is a long way from serving as the basis for a deal, three European officials said, asking not to be named because the talks are private.

Data Tuesday may show consumer prices in the euro-zone fell 0.1 percent in March, according to economists polled by Bloomberg, after sinking more than that the previous three months. Central banks from Europe to Asia are expanding stimulus packages and easing policy to bolster their economies, while the Federal Reserve considers tightening. Chair Janet Yellen said Friday she expects U.S. interest rates to rise this year, with subsequent increases to be gradual.

Iran Talks

West Texas Intermediate crude slipped to $48.08 a barrel, after falling 0.4 percent on Monday. Brent oil fell 0.8 percent in a third day of declines, to $55.83 a barrel.

Talks on Iran’s nuclear program resumed Monday amid speculation a deal to ease sanctions may mean a resumption of oil shipments from the OPEC producer. Iran, the fifth biggest producer in the group, could increase exports by 1 million barrels a day if international sanctions were lifted, Oil Minister Bijan Namdar Zanganeh said March 16.

In the U.S., the S&P 500 capped its first back-to-back gain after a 28-day drought, the longest run since 1994. The S&P 500 has declined 0.9 percent in March, paring its quarterly climb to 1.3 percent. The last decline came in the final three months of 2012.

Merger Monday

Merger news drove advances, with Horizon Pharma Plc up 18 percent after saying it will acquire Hyperion Therapeutics Inc., while Catamaran Corp. jumped 24 percent after UnitedHealth Group Inc. agreed to buy it. Teva Pharmaceutical Industries Ltd. is buying Auspex Pharmaceuticals Inc. Energy shares also climbed, rallying 2.1 percent following two days of declines.

Company profits probably shrunk by 5.8 percent in the first three months, according to analyst estimates compiled by Bloomberg. Alcoa Inc. unofficially kicks off the earnings season when it reports first-quarter results on April 8.

Nickel in London fell 0.2 percent, extending declines after posting the biggest two-day loss in 10 months as it heads for the largest monthly slide since September and worst quarter in almost two years. The metal in Shanghai is down 3.2 percent.