Asian stocks fell for a second day, paring this week’s gain on the regional benchmark index, as interest-rate cuts in Europe and China failed to assure investors the moves will be enough to boost economic growth.

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European stocks rose to a two-month high and Asian shares advanced on speculation central banks will ease monetary policy to spur growth. U.S. equities were little changed before data on factory orders, while oil led commodities higher and the yen weakened.

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The Asian stock markets are expected to open mixed with a slight downside bias on Friday, with caution likely to reign ahead of the monthly U.S. jobs data coming out later in the day.

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China’s stocks rose for a third day as a pick-up in the property market helped the nation’s service industries expand at a faster pace and speculation grew the government will further ease monetary policy.

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Most Swiss stocks slipped, after the Swiss Market Index reached the highest level in more than two months yesterday.

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European stocks rose and Asian shares headed for their biggest five-day gain this year on expectations that central banks in Europe and China will ease monetary policy to spur economic growth. Commodities climbed to a one-month high as oil and corn advanced.

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Asian stocks rose for a sixth day, with the regional benchmark index recording its longest winning streak this year, as U.S. factory orders topped estimates and commodities climbed to a two-month high amid speculation central banks will act to boost economic growth.

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European stocks rose as investors bet central banks will add to measures unveiled by the region’s governments to contain the sovereign-debt crisis and data from China and Japan fueled optimism Asia will drive global growth.

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