Major Asian-Pacific stock markets except Japan's rose Friday. Japan's Nikkei 225 slid 0.1%. Hong Kong's Hang Seng Index gained 0.3%, while South Korea's Kospi and Australia's S&P/ASX 200 added 0.4%. India's Sensex was up 0.6% shortly after midday. Exchanges in Taiwan and China remained closed for a holiday.
Greece's economy is deteriorating so fast that there are doubts whether it can ever recover without defaulting on its bonds, according to an analysis by the International Monetary Fund. The analysis suggests that even after spending cuts and tax increases, Greece's debt in 2020 won't be significantly lower than it is now.
ProShares brought to the U.S. market an exchange-traded fund that buys German government debt. The ETF buys only investment-grade fixed-income securities issued by Germany's federal government, state governments and government-back entities.
AdvisorShares introduced an exchange-traded fund that buys single-country ETFs in an attempt to deliver returns that beat benchmarks such as the MSCI All Country World Index. The Accuvest Global Opportunities ETF follows a country-rotation strategy, based on its own ranking.
In their longest rally since July 15, soybean prices continued edging up because of speculation that hot, dry weather will reduce production in Argentina. On the Chicago Board of Trade, soybean futures for March delivery gained 0.7% on Thursday, closing at $11.7175 a bushel.