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- INTERNATIONAL MARKETS OVERVIEW
European investors took their cue from indications of further support for China's economy and U.S. investors keyed on good corporate news and positive signs from the White House on budget negotiations as shares posted modest gains Wednesday on both sides of the Atlantic. The Stoxx Europe 600 ended the day with a 0.24% gain to 276.91, and the S&P 500 edged up 0.16% to close at 1,409.28. Here is a continuously updated list of global stock indexes. The Wall Street Journal
(12/6)
, CNNMoney
(12/5)
, The Wall Street Journal
(12/5)
- Asian shares advance
Asian stocks gained, benefiting from reports in China of looser rules allowing for insurers to invest in commercial lenders and as optimism grew over policy support for urban infrastructure spending. The Hang Seng jumped 2.16% to 22,270.91, the Nikkei rose 0.39% to 9,468.84, the Kospi added 0.61% to 1,947.04 and the S&P/ASX was up 0.37% at 4,520.40. Bloomberg
(12/5)
Economic Trends & Outlook
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- India's retail FDI opening bodes well for GDP, Goldman Sachs says
Noting the general tendency for foreign direct investment to quickly translate into growth in GDP, Goldman Sachs says India's new opening to FDI in retail is essential, in part to reduce the country's stubborn current account deficit. Goldman Sachs India Managing Director Tushar Poddar also pointed out that retail is particularly promising, holding the potential for even stronger boosts to GDP from investment than other sectors. The Economic Times (India)
(12/5)
- Goldman sees a brighter 2013 for South Korea
Stronger consumption in a domestic economy benefiting from lower oil prices and better prospects for exports should help South Korea achieve 3.4% growth next year, Goldman Sachs says. Inflation, meanwhile, is expected to remain below 3%, and the Kospi should get a lift from shares in the electronics, auto, steel and banking sectors. The Korea Herald (Seoul)
(12/5)
- Confident Indonesian consumers lifting economy
Southeast Asia's biggest economy is benefiting from high consumer confidence, even as Indonesians register concern over the availability of jobs in the near future, according to Bank Indonesia. Higher wages helped boost the bank's confidence index last month to a reading of 120.1 from 119.5 in October. Consumer spending was up as well, and survey respondents reported seeing increased business activity. The Business Times (Singapore)
(12/5)
Capital Markets & Financial Products
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- Philippine officials weigh investment holding period
Addressing concerns over sudden inflows of foreign money, Philippine monetary authorities are considering a mandatory holding period for portfolio investments, perhaps 90 days. Still up in the air, however, are details such as whether equities should be included and the how and who of enforcement, said Monetary Board member Felipe M. Medalla. Business World (Philippines)
(12/5)
Industry & Regulatory Update
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- Asia's mutual funds industry is expected to see strong growth
The mutual fund industry across Asia, ex-Japan, is set to reverse a decline in assets under management over the past four years and top US$1.5 trillion by 2016, according to research firm Cerulli Associates. That would represent 11% compound annual growth, with assets pegged to reach US$1 trillion by the end of this year. AsianInvestor.net
(12/5)
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CFA Institute Financial NewsBrief: Asia Pacific Edition Issues:
- Wednesday, December 05, 2012
- Tuesday, December 04, 2012
- Monday, December 03, 2012
- Friday, November 30, 2012
- Thursday, November 29, 2012
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