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December 6, 2012
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  Top Stories 
  • Latest eurozone figures point to negative growth
      
    Guindos/Reuters
    The eurozone's purchasing managers' index in services rose a bit last month but remained well under the break-even level, and consumers scaled back their spending in October for the third consecutive month. The readings add to indications of negative growth. "I believe this quarter will be the most difficult since the economic contraction started," said Spanish Finance Minister Luis de Guindos. The Wall Street Journal (12/5) LinkedInFacebookTwitterEmail this Story

  • Citigroup slashing 11,000 jobs globally
      
    Reuters
    Citigroup says 11,000 jobs will be cut worldwide as it takes steps in light of declining revenue and share price. The global consumer-banking unit will bear the brunt, with 84 branch closures planned. Citi's move is the first strategic action since the departure of CEO Vikram Pandit. The Wall Street Journal (12/5) LinkedInFacebookTwitterEmail this Story

Assessing the Relative Value of Stocks, Bonds, and Other Asset Classes
Join us for a complimentary live online session with Jeremy J. Siegel from the 15th Annual Equity Research and Valuation conference.

7 December 2012
11:30 a.m. EST-12:30 p.m. EST
  Market Activities 
  • 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) LinkedInFacebookTwitterEmail this Story
  • 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) LinkedInFacebookTwitterEmail this Story
Dark Trading: Is It Hurting Market Quality?
CFA Institute report examines impact of internalization and dark pool trading on market quality.
  Economic Trends & Outlook 

  • 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) LinkedInFacebookTwitterEmail this Story
  • 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) LinkedInFacebookTwitterEmail this Story
  • Malaysian growth to extend slowing pattern, UBS economist predicts
      
    Reuters
    Malaysia is likely to see continued slowing in its economy next year, with 4.5% growth in prospect, predicts UBS Investment Bank senior economist Edward Teather. Weakening exports are the key factor, Teather said. Malaysian GDP grew 7.2% in 2010, easing to 5.1% last year and a projected 5% this year. The Edge Malaysia (12/5) LinkedInFacebookTwitterEmail this Story

  • 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) LinkedInFacebookTwitterEmail this Story
  Capital Markets & Financial Products 

  • 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) LinkedInFacebookTwitterEmail this Story
  Industry & Regulatory Update 

  • 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) LinkedInFacebookTwitterEmail this Story
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