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Top Stories
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- Nouriel Roubini projects a gloomy 2013
Setting aside the big overhanging worries of the U.S. fiscal cliff and the eurozone crisis, plenty of other fundamental problems are casting a pall over prospects for the global economy in the new year, says economist Nouriel Roubini. Roubini notes recession across Europe, unsustainability of economic expansion in China and other emerging markets, sustained slow growth in the U.S. and generally high price-earnings ratios in stock markets that render them sensitive to external shocks. AdvisorOne
(11/20)
Market Activities
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- INTERNATIONAL MARKETS OVERVIEW
European and U.S. stock markets were choppy Wednesday as they digested news over creditors' failure to reach agreement on a Greek bailout but generally finished higher ahead of the U.S. Thanksgiving holiday. Both the Stoxx Europe 600 and the S&P 500 edged up 0.23%, with the Stoxx index ending at 270.11 and the S&P at 1,391.03. Here is a continuously updated list of global stock indexes. The Wall Street Journal
(11/22)
, MarketWatch
(11/21)
, CNNMoney
(11/21)
- Positive numbers out of U.S. help lift Asian shares
Favorable economic indicators out of the U.S. and talk of additional stimulus in China raised shares in many Asian markets Wednesday. The Nikkei climbed 0.87% to 9,222.52 and the Hang Seng surged 1.39% to 21,524.36, while the Kospi lost 0.32% to end at 1,884.04, and the S&P/ASX was down 0.37% at 4,369.50. Bloomberg Businessweek
(11/21)
Economic Trends & Outlook
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- Malaysia would feel the pain of U.S. going over "fiscal cliff"
Projected growth of 5.2% for Malaysia's economy in 2013 could be lowered to between 3% and 4% if the U.S. fails to address its fiscal crisis, said economist Gundy Cahyadi of OCBC Bank. "It's going to create a huge impact if this were to happen. The 'fiscal cliff' will create a recession in the U.S. where its economy will likely contract by 0.5%, and this may lead to a bigger-than-expected recession in the eurozone," Cahyadi said. Star Publications (Malaysia)
(11/21)
- Lasting investment promise seen in Southeast Asia
Sharp growth this year for mutual funds invested across Southeast Asia should continue for investors who can still get in on the ground floor as the region's economies develop, says Matterhorn Investment Management. "There are a very large number of companies that have very good prospects because it is such an early stage and they have so much more growth to go," said Paul Bate, founder of Matterhorn, which is planning a new long-short hedge fund for the region. The Wall Street Journal
(11/20)
Capital Markets & Financial Products
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- China clears 7 more QFIIs this month
So far this month, seven additional foreign investors have been approved as qualified foreign institutional investors as China looks to provide a further lift to its capital markets. In the latest QFII push by the China Securities Regulatory Commission and the State Administration of Foreign Exchange, 199 such investors have been cleared for QFII status, and the volume of their investment comes to US$33.57 billion. China Daily (Beijing)
(11/21)
- IPO for PICC attracts big buyers
AIG with a planned US$500 million is among the many major buyers piling in to the initial public offering of People's Insurance Co. of China, which hopes to raise US$3.6 billion in the largest IPO of a Chinese state-owned company since 2010. The offering is also seen as a revival of Hong Kong's IPO market, which had trailed off this year after a long run of major activity. The Wall Street Journal
(11/20)
Industry & Regulatory Update
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Editor's Note
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Thanksgiving holiday in U.S.
Because of the Thanksgiving Day holiday in the U.S., CFA Institute Financial NewsBrief: Asia Pacific Edition will not publish on Friday, Nov. 23. Publication will resume on Monday, Nov. 26.
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CFA Institute Financial NewsBrief: Asia Pacific Edition Issues:
- Wednesday, November 21, 2012
- Tuesday, November 20, 2012
- Monday, November 19, 2012
- Friday, November 16, 2012
- Thursday, November 15, 2012
| | | Lead Editor:
Jim Berard
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