Reading this on a mobile device? Try our optimized mobile version here:

December 3, 2012
Sign upForwardArchive

  Top Stories 
  • China manufacturing indicator reaches 7-month high
    China's purchasing managers' index touched a seven-month high at 50.6 in November, reinforcing indications that the Chinese economy -- particularly the manufacturing sector -- is pulling out of a slump. "Though the November PMI is a bit lower than the market expectation of 50.8, it remained above 50 and has risen for three months in a row, demonstrating that the country's real economy and financial market is improving," said Zhou Hao, an economist at ANZ Banking Group. Associated Press (12/2) , China Daily (Beijing) (12/2) , The Wall Street Journal (12/1) LinkedInFacebookTwitterEmail this Story

  • Sharp words are exchanged over U.S. budget talks
    New signs that crucial budget negotiations in Washington might be stalling emerged over the weekend, with House Speaker John Boehner dismissing White House proposals as "nonsense" and Treasury Secretary Timothy Geithner ruling out any plan that doesn't include tax increases. "I would say we're nowhere, period," Boehner said of the ongoing talks. The Hill (12/2) , Bloomberg (12/2) LinkedInFacebookTwitterEmail this Story
  • Low-growth U.S. economic picture becomes clearer
    Although the effects of Hurricane Sandy are still being felt in U.S. economic indicators, enough valid evidence is emerging to suggest that the U.S. rate of growth is slowing. New data due this week -- on consumer sentiment, auto sales and manufacturing -- should give a clearer picture, but economists expect nothing very encouraging. MarketWatch (12/2) LinkedInFacebookTwitterEmail this Story

  • Spain's Rajoy suggests budget target might be missed
    Spain's outlook for meeting this year's goal of reducing its budget deficit to no more than 6.3% of GDP is "very complicated," said Prime Minister Mariano Rajoy, who had vowed earlier to meet the target. "Spain was asked to make a very difficult effort, to go from 8.9% to 6.3% in only one year," Rajoy said in a newspaper interview. Channel NewsAsia/Agence France-Presse (12/2) LinkedInFacebookTwitterEmail this Story
  • Bank of England lending program might be a bust
    The hoped-for £80 billion boost from the Bank of England's plan to raise lending -- launched in August -- probably has produced only a small fraction of that to date, analysts say. As the bank prepares to report on early results, hopes are not high. "Given that we are just two or three months into the scheme, it is likely to be something more in the order of £10 billion," said Jens Larsen, the chief European economist at RBC Capital Markets. The Independent (London) (12/2) LinkedInFacebookTwitterEmail this Story

Dark Trading: Is It Hurting Market Quality?
CFA Institute report examines impact of internalization and dark pool trading on market quality.
  Market Activities 
    European stocks eased back from 17-month highs and U.S. stocks struggled to find direction Friday as investors on both sides of the Atlantic waited for clear indications to emerge from contentious U.S. budget negotiations. The Stoxx Europe 600 ended 0.19% lower at 275.78, and the S&P 500 was basically unchanged at 1,416.18. Here is a continuously updated list of global stock indexes. The Wall Street Journal (12/3) , Bloomberg (11/30) , CNNMoney (11/30) LinkedInFacebookTwitterEmail this Story
  • Asian shares advance on news from Japan, U.S.
    Rising expectations of stimulus in Japan and a brighter outlook for a resolution in the budget showdown in the U.S. helped lift stocks across Asia last week. On Friday, the Nikkei was up 0.48% to 9,446.01, the Hang Seng rose 0.49% to 22,030.39, the Kospi edged down 0.10% to 1,932.90 and the S&P/ASX added 0.63% to close at 4,506.00. Bloomberg Businessweek (11/30) LinkedInFacebookTwitterEmail this Story
The Gold Standard: A Fifty-Year History of the CFA Charter
An exclusive book offer from CFA Institute
Order yours now
  Economic Trends & Outlook 
  • Indian business outlook dims
    A clouded outlook both for India and the global market is cited as Indian businesses indicate lower levels of confidence in the latest quarter. "Moderation in economic growth along with high and stubborn inflation appears to be the main concern in business operation," the NCAER-MasterCard Worldwide Index of Business Confidence report notes. The Economic Times (India) (12/2) LinkedInFacebookTwitterEmail this Story

  • South Korean at-risk mortgages account for 4.8% of total
    South Korean mortgages deemed to be at risk of default totaled US$236 million in September, or 4.8% of the total home-backed loans from local financial institutions, the Financial Supervisory Service reports. "The percentage itself may yet seem small, but it's a significant figure considering most of these mortgages were borrowed by the low-credit group," said Yang Hyun-geun, an FSS director. Yonhap News Agency (South Korea) (12/2) LinkedInFacebookTwitterEmail this Story
  • Australians expecting a rate cut this week
    Expectations are growing that the Reserve Bank of Australia will cut its official cash rate to 3% this week, equal to the rate last achieved during the global financial meltdown. "With a two-month hiatus before the next RBA meeting, inflation on target, weakening investment intentions and only modest signs that monetary policy is driving [a] rebalancing of growth as yet, we expect another 25 basis-point cash rate cut next week, ahead of Christmas," said Paul Bloxham, chief economist of HSBC Australia. The Sydney Morning Herald (Australia) (12/2) LinkedInFacebookTwitterEmail this Story

  Capital Markets & Financial Products 
  • PICC's Hong Kong IPO is said to raise US$3.1 billion
    With a lift from 17 cornerstone investors, People's Insurance Company (Group) of China is reported to have raised US$3.1 billion in the largest initial public offering in Hong Kong in two years. "Liquidity is helping, and good companies with reasonable valuations can attract investors," said Binay Chandgothia, a Hong Kong-based portfolio manager at Principal Global Investors. Bloomberg (11/30) LinkedInFacebookTwitterEmail this Story
  • Rate cuts have potential to rein in China bank profits
    Recent rate cuts by China's central bank are expected to cut into profits across the country's banking sector in the coming year. Bank profits, however, have been huge in recent years, with the combined net of the 16 banks listed on mainland exchanges accounting for more than half the profits of the total of 2,493 listed companies. (China) (12/2) LinkedInFacebookTwitterEmail this Story
  • Chinese futures trading soars as stocks lag
    NO IMAGE FOUNDChina's lagging stock markets have led investors to other venues, accelerating growth in the country's futures markets. This year, reports the China Futures Association, combined trading turnover is up nearly 20% in the first 11 months from the year-earlier period. (China) (12/2) LinkedInFacebookTwitterEmail this Story

  • India Ratings plans new products
    Infrastructure and structured finance are the focus as Fitch unit India Ratings lays plans to introduce new products. "We believe that within structured finance space, there are a lot of instruments, which should emerge with the development of market," India Ratings chief Atul Joshi said, while noting plans to bring to India infrastructure products currently available overseas, such as airport or port receivables or trade receivables. The Economic Times (India)/Press Trust of India (12/2) LinkedInFacebookTwitterEmail this Story
  Industry & Regulatory Update 
  • Muddy Water dares Olam to undergo debt rating
    Muddy Waters is offering to pay if Singapore-based Olam will agree to have its debt rated by Standard & Poor's. Olam has accused Muddy Waters of being a front for other hedge funds, but Muddy Waters denies this and is threatening a lawsuit if a retraction is not forthcoming. The Business Times (Singapore) (12/1) LinkedInFacebookTwitterEmail this Story

Learn more about CFA ->About CFA Institute  |  Advertise  |  Educational Resources  |  Social Media

Subscriber Tools
Print friendly format  | Web version  | Search past news  | Archive  | Privacy policy

 Recent CFA Institute Financial NewsBrief: Asia Pacific Edition Issues:   Lead Editor:   Jim Berard
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
© 1999-2012 SmartBrief, Inc.®  Legal Information