One of the candidates for the new chief of the Bank of Japan says "additional" measures are available and could be justified to help meet the 2% inflation target set by the bank and new government. Asian Development Bank President Haruhiko Kuroda also said the yen's recent decline is part of a "natural adjustment." Previously, Kuroda offered the opinion that the central bank should set a 3% inflation target.
A sharp decline in shares for Denmark's Novo Nordisk weighed on stocks Monday in Europe as investors kept an eye on eurozone finance ministers gathered in Brussels. In the U.S., the market was quiet after recent gains. The Stoxx Europe 600 fell 0.60% to 285.62, and the S&P 500 barely budged, easing 0.06% to 1,517.01. Here is a continuously updated list of global stock indexes.
With prospects for economic gains in China this year as well as more stable markets in Europe and the U.S., Hong Kong's economy is likely to improve slightly in 2013, Financial Secretary John Tsang said in a blog post. The remark reveals a switch in sentiment from Tsang's warning in November that Hong Kong faced the possibility of recession, barring a change in the global outlook.