Asia Day Ahead: Moore, Deutsche Bank Workers Probed (Update1)

March 24 (Bloomberg) -- The following are the top Asia stories for the day.

TOP STORIES/MOST READ ON BLOOMBERG

Moore, Deutsche Bank Workers Probed on Insider Trades (Update1)

An employee of hedge-fund Moore Capital Management LLC’s U.K. unit was arrested and workers at Deutsche Bank AG and Exane SA are being investigated in the U.K’s largest crackdown on insider trading.

Credit Suisse Making Sales Hires for Investment Bank (Update2)

Credit Suisse Group AG, Switzerland’s biggest bank by market value, plans to hire more than 130 sales people at its investment bank this year.

Germany, France Back IMF Aid to Greece, Official Says (Update1)

Germany and France have agreed to back International Monetary Fund aid for Greece, a German Finance Ministry official said, signaling a joint position after weeks of dispute over how to resolve the Greek crisis.

Julian Rifat Said to Be Moore Trader Served by FSA (Update1)

Julian Rifat, an equity-execution trader at Moore Capital Management LLC, was served with a search warrant by the U.K.’s Financial Services Authority, according to a person with knowledge of the matter.

MAIN ECONOMIC RELEASES: Figures are based on Bloomberg survey of economists:

New Zealand Trade Deficit Seen Widening to 1.6 Billion in 4Q Japan’s Exports Seen Quickening to 45.7% in February

MAIN ANALYST UPGRADES/DOWNGRADES: *Transfield Services Rated New ‘Neutral’ at Credit Suisse *Reject Shop Cut to ‘Neutral’ at Credit Suisse *AGL Energy Cut to ‘Neutral’ at Credit Suisse *LG Household Cut to ‘Neutral’ at HSBC *SK Broadband Co Ltd Raised to ‘Neutral’ at HSBC *Baidu Inc Cut to ‘Hold’ at Mirae Asset Securities *Asia Cement China Holding Cut to ‘Inline’ at SinoPac *ICICI Bank Cut to ‘Hold’ at BNP Paribas Securities (Asia)

ASIAN MARKETS

The Nikkei 225 futures contract due in June fell 45 to 10,700. The Hang Seng Index futures contract for March rose 145 to 21,020. The S&P/ASX 200 Index futures contract due in June rose 42 to 4,896 at 6:59 a.m. in Sydney.

U.S. Stocks Advance to Send S&P 500 Index to 18-Month High

U.S. stocks advanced, sending the Standard & Poor’s 500 Index to an 18-month high, as signs of growing demand for steel and semiconductors boosted confidence the economic recovery is strengthening.

Leveraged Buyout Revival Seen in Default Swaps: Credit Markets

Credit-default swaps tied to the bonds of borrowers from Computer Sciences Corp. to Lubrizol Corp. are rising on speculation that leveraged buyouts will accelerate, saddling takeover targets with added debt.

Euro Declines as France, Germany Support IMF Role in Greece Aid

The euro fell versus most major counterparts after an official said French and German leaders agreed the International Monetary Fund should be involved in any aid package for Greece, damping demand for the common currency.

European Stocks Climb to 18-Month High; Legal & General Gains

European stocks rose to an 18-month high as Germany and France agreed to back International Monetary Fund aid for Greece and Legal & General Group Plc reported earnings that topped analysts’ estimates.

Bund Futures Outlook Is ‘Bullish,’ UBS Says: Technical Analysis

The June bund futures contract may rise as high as 124.20 should it overcome resistance at yesterday’s peak of 123.69, UBS AG said, citing technical indicators.

Crude Oil Falls on Dollar Gain, Forecast for Supply Increase

Crude oil fell as the dollar climbed against the euro and analysts forecast that a government report will show a gain in U.S. stockpiles.

Gold Rises After Two-Day Slump, Dollar’s Decline Spurs Buying

Gold rebounded, snapping a two-day decline, as the dollar declined and prices near a one-month low attracted buyers.

HIGHLIGHTS FROM NEWSPAPERS:

BHP, Rio Iron Venture May be Delayed to 2011, Australian Says

BHP Billiton Ltd.’s proposed iron ore venture with Rio Tinto Group may not be implemented until 2011 with regulatory approval potentially still “several months” away, the Australian newspaper reported, citing Rio executive Sam Walsh. European Union approvals may not be completed until the second half of 2010 which would delay implementing the plan, the newspaper said.

--Editor: Tim Smith

To contact the editor responsible for this story: Tim Smith in Sydney at tsmith58@bloomberg.net