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October 15, 2012
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  • Gains in Chinese exports, money supply allay some slowdown fears
    Gathering fears over China's economic slowdown have been eased somewhat by a 9.9% jump in September exports and a 14.8% surge in money supply, indicating that stimulus efforts are gaining traction. Overseas, China got some good news as well, as the U.S. Treasury announced it would put off deciding whether to cite China for currency manipulation until after next month's U.S. elections. Bloomberg (10/14) , The Korea Herald (Seoul) (10/14) , Financial Times(tiered subscription model) (10/12) LinkedInFacebookTwitterEmail this Story
  • Island dispute casts pall over global roles of China, Japan
    China's decision not to have top officials attend International Monetary Fund and World Bank meetings in Tokyo due to a territorial dispute is raising doubts about Beijing's commitment to assuming a larger role on the world stage. The dispute also raises questions about whether Japan is capable of setting aside such minor issues in its quest to become Asia's leader in the world financial community. The Wall Street Journal (10/14) , The Wall Street Journal (10/14) LinkedInFacebookTwitterEmail this Story
  • Greece sees deal coming this week on austerity, debt
    The Greek prime minister expects that a new austerity and debt-reduction package will be assembled and agreed upon with the EU and International Monetary Fund this week. Meanwhile, eurozone officials are trying to come up with new ways for Greece to meet longer-term debt-cutting goals with the original target now out of reach due to recession and delayed reforms. Reuters (10/14) LinkedInFacebookTwitterEmail this Story
  • Report: U.K. economy to shrink 0.2% this year
    The U.K.'s economy will shrink 0.2% this year and grow 1.2% in 2013, the Ernst & Young ITEM Club is expected to say in a report today. "With exports being battered by the eurozone crisis and a weakening outlook in markets such as the U.S., India and China, the U.K. is relying heavily on the high street to come to the rescue," yielding "not the balanced, long-term sustainable growth we were hoping for," says Peter Spencer, chief economic adviser to ITEM Club. Bloomberg Businessweek (10/13) LinkedInFacebookTwitterEmail this Story
  • Geithner says much remains to be done in U.S.
    Amid concerns that the U.S. will run itself and the world off a politically imposed "fiscal cliff" in the new year, Treasury Secretary Timothy Geithner told officials gathered for the International Monetary Fund and World Bank meeting in Tokyo that the U.S. still has a lot of work to do addressing debt and deficit targets. "It is important that we in the U.S. enact a balanced framework to bring down our fiscal deficit and debt over several years, while continuing to provide support for jobs and growth in the short term," Geithner said. The Guardian (London)/The Associated Press (10/13) LinkedInFacebookTwitterEmail this Story
Fund Management: An Emotional Finance Perspective
by David Tuckett and Richard J. Taffler, Research Foundation Publications (August 2012)
To increase understanding of the real world of the fund manager, the authors apply principles from emotional finance.
  Market Activities 
  • INTERNATIONAL MARKETS OVERVIEW
    U.S. stocks suffered their worst weekly decline since June, and European stocks fell for the third week out of the past four as the International Monetary Fund lowered its forecast for global growth. The Stoxx Europe 600 was down 0.52% on Friday and 1.7% for the week to end at 269.43, and the S&P 500 was down 0.30% Friday and 2.2% for the week to close at 1,428.59. Here is a continuously updated list of global stock indexes. The Wall Street Journal (10/15) , Bloomberg (10/12) , Bloomberg Businessweek (10/12) LinkedInFacebookTwitterEmail this Story
  • IMF forecast depressed Asian stocks over the past week
    Asian stocks staged a broad retreat over the past week, with the International Monetary Fund's forecast for slower global growth weighing broadly across the region. The MSCI Asia Pacific Index lost 1.5% to end at 120.78, the biggest weekly pullback since August. On Friday, however, some major markets were moderately higher, with the Hang Seng up 0.65% to 21,136.43, and the S&P/ASX edging up 0.07% to 4,486.60. Meanwhile, the Kospi was essentially unchanged at 1,933.26 and the Nikkei lost 0.15% to close at 8,534.12. The Taipei Times (Taiwan) (10/14) LinkedInFacebookTwitterEmail this Story
  Economic Trends & Outlook 
  • China spotlights inflation as top priority
    Inflation was at the top of China's expressed concerns on the final day of the International Monetary Fund-World Bank meeting in Tokyo. Yi Gang, vice governor of the People's Bank of China, said the government's first priority is keeping inflation under control. Meanwhile, the key liquidity measure of China's total social financing aggregate stood at 1.65 trillion yuan in September, up 1.22 trillion yuan from a year before. Xinhuanet.com (China) (10/14) , Caijing Magazine online (10/12) LinkedInFacebookTwitterEmail this Story
  • Australia calls on world to lift growth burden off Asia's shoulders
    The world is too dependent on Asia to generate global growth, a situation that needs to be addressed, says Australian Treasurer Wayne Swan. "It is time for the other players to get off the benches and start to pull their weight on global economic growth again. Asia alone can't carry the global economy," Swan said in remarks to the International Monetary and Financial Committee in Tokyo. Bloomberg Businessweek (10/13) LinkedInFacebookTwitterEmail this Story
  Capital Markets & Financial Products 
  • Taiwan to push for further opening to foreign investment
    A move to open up the Taiwanese manufacturing and financial sectors to foreign investment will include a boost in the maximum stake that mainland Chinese banks can hold in Taiwan banks as well as development of Taiwan T shares to support the capital market, Premier Sean Chen announced. Taiwan T shares are similar to Hong Kong H shares, which are shares of mainland China-registered enterprises listed on Hong Kong's stock market. China Economic News Service (Taiwan) (10/12) LinkedInFacebookTwitterEmail this Story
  Industry & Regulatory Update 
  • India weighs trading bands after "flash crash"
    Trading bands may be in store for at least some major Indian stocks as regulators and exchanges look to ways to prevent a recurrence of the recent "flash crash" that briefly knocked out as much as $70 billion of value. The National Stock Exchange is also looking into setting up partnerships with overseas exchanges that might produce joint trading platforms. The Wall Street Journal (10/14) LinkedInFacebookTwitterEmail this Story
  • ASX chief: Solution to high-frequency trading problems is in sight
    The next year is likely to see a solution to problems posed by high-frequency trading as the Australian Securities Exchange extends talks with the government. Citing the focus and concern of government regulators, ASX chief Elmer Funke Kupper said, "I think the facts are starting to converge, so people [will soon] stop arguing about the facts and start talking about the solutions, which is really where we need to be." The Sydney Morning Herald (Australia) (10/15) LinkedInFacebookTwitterEmail this Story
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