Global stocks hit a record high on Friday and Asian markets rose to their best levels in more than two years as upbeat data on U.S. manufacturing and employment and buoyant European factory growth boosted investor optimism, Reuters reported. The MSCI ACWI, an index of 46 stock markets in the world, rose 0.2 percent to a record high. It was on track for a gain of 0.6 percent for the week and close to 11 percent for the year to date. European shares were also expected to advance, with spread-betters looking at gains of 0.6-0.7 percent for Germany's DAX, France's CAC and Britain's FTSE. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.6 percent, while Japan's Nikkei rose 1.6 percent, topping the psychologically important 20,000-point mark and taking the benchmark to its highest level since August 2015. Wall Street's volatility index, which measures implied volatility of stocks and is often seen as investors' fear gauge, fell below 10, near a decade-low touched last month, in another sign of investors' confidence that markets will be stable at least for the time being. Further signs of solid U.S. growth led traders to almost fully price in the chance that the Federal Reserve will raise interest rates at its June 13-14 policy meeting. They also supported the outlook for possibly another hike by the year-end, likely in September. The dollar gained 0.3 percent to 111.65 yen, extending its rebound from Wednesday's near two-week low of 110.485 yen. The euro slipped to $1.1217 from Thursday's high of $1.1257, its highest in more than a week. Europe's manufacturing sector continues to expand at a solid pace. The IHS Markit's Manufacturing Purchasing Managers' Index for the euro zone rose to 57.0 in May, up from April's 56.7 and its highest level since April 2011. The Brent futures fell 0.5 percent to $50.39 per barrel, near its three-week low of $49.81 set on Wednesday.
